Sutro Biopharma (NASDAQ:STRO) Trading Down 4.8% - Time to Sell?

Key Points

• Sutro Biopharma shares fell 4.8% on Thursday, trading as low as $30.23 after closing at $31.84, with volume well below average.
• Despite the dip, analyst sentiment remains upbeat: several firms recently raised price targets, and the stock carries a Moderate Buy consensus with an average target price of $52.44.
• The company posted a Q1 EPS loss of $2.94, missing estimates, though revenue of $14.52 million beat expectations; analysts still expect a full-year loss.

Shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) traded down 4.8% on Thursday . The company traded as low as $30.23 and last traded at $30.31. Approximately 93,071 shares were traded during trading, a decline of 63% from the average session volume of 250,598 shares. The stock had previously closed at $31.84.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STRO. HC Wainwright increased their price objective on shares of Sutro Biopharma from $28.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Leerink Partners set a $43.00 target price on shares of Sutro Biopharma and gave the stock an "outperform" rating in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, March 25th. Lifesci Capital upgraded shares of Sutro Biopharma to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Citizens Jmp lifted their price objective on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a "market outperform" rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sutro Biopharma presently has an average rating of "Moderate Buy" and a consensus target price of $52.44.

Sutro Biopharma Price Performance

The stock has a market cap of $502.24 million, a PE ratio of -2.75 and a beta of 1.51. The company's fifty day moving average is $31.41 and its 200-day moving average is $23.70.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The business had revenue of $14.52 million for the quarter, compared to the consensus estimate of $8.89 million. Analysts expect that Sutro Biopharma, Inc. will post -9 EPS for the current year.

Institutional Trading of Sutro Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings 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 acquiring an additional 1,206,330 shares during the period. Orbimed Advisors LLC purchased a new position in shares of Sutro Biopharma during the 1st quarter valued at approximately $19,956,000. Perceptive Advisors LLC purchased a new position in shares of Sutro Biopharma during the 1st quarter valued at approximately $17,818,000. Jane Street Group LLC acquired a new position in shares of Sutro Biopharma in the 2nd quarter valued at $492,000. Finally, ADAR1 Capital Management LLC lifted its stake in shares of Sutro Biopharma by 681.8% in the 1st quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company's stock valued at $13,064,000 after purchasing an additional 457,364 shares during the period. 96.99% of the stock is owned by institutional investors and hedge funds.

Sutro Biopharma Company Profile

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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