Sutro Biopharma (NASDAQ:STRO) Shares Down 6.1% - Time to Sell?

Key Points

• Shares fell 6.1% intraday to $32.72 (low $32.44) on Friday, with volume of 35,223 shares—about 80% below the stock's average session volume.
• Wall Street sentiment is broadly positive: the consensus rating is "Moderate Buy" with an average price target of $39.63 and several recent analyst upgrades and outperform/ buy ratings.
• Institutional ownership is very high (96.99%), with large stake increases from firms like AQR and Two Sigma, signaling strong hedge fund interest despite recent volatility.

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) traded down 6.1% during mid-day trading on Friday . The company traded as low as $32.44 and last traded at $32.7160. 35,223 shares traded hands during trading, a decline of 80% from the average session volume of 173,478 shares. The stock had previously closed at $34.83.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup reiterated an "outperform" rating on shares of Sutro Biopharma in a research note on Friday, April 17th. Wall Street Zen upgraded Sutro Biopharma from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Leerink Partners assumed coverage on Sutro Biopharma in a research note on Tuesday, April 7th. They set an "outperform" rating and a $38.00 price target for the company. HC Wainwright upgraded Sutro Biopharma from a "neutral" rating to a "buy" rating and lifted their price target for the company from $10.00 to $28.00 in a research note on Tuesday, March 24th. Finally, Citizens Jmp boosted their target price on Sutro Biopharma from $35.00 to $41.00 and gave the stock a "market outperform" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sutro Biopharma has an average rating of "Moderate Buy" and a consensus target price of $39.63.

Sutro Biopharma Price Performance

The stock has a fifty day moving average of $23.98 and a 200 day moving average of $15.49. The firm has a market capitalization of $538.44 million, a P/E ratio of -1.24 and a beta of 1.31.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors have recently bought and sold shares of STRO. AQR Capital Management LLC lifted its stake in Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company's stock valued at $859,000 after purchasing an additional 1,206,330 shares during the last quarter. Jane Street Group LLC purchased a new position in Sutro Biopharma in the second quarter valued at approximately $492,000. Jacobs Levy Equity Management Inc. purchased a new position in Sutro Biopharma in the third quarter valued at approximately $387,000. Two Sigma Investments LP lifted its stake in Sutro Biopharma by 244.8% in the third quarter. Two Sigma Investments LP now owns 396,785 shares of the company's stock valued at $345,000 after purchasing an additional 281,717 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Sutro Biopharma in the second quarter valued at approximately $166,000. Hedge funds and other institutional investors own 96.99% of the company's stock.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.

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