Suvretta Capital Management LLC Grows Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

Suvretta Capital Management LLC increased its position in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,462,495 shares of the company's stock after purchasing an additional 275,000 shares during the quarter. Suvretta Capital Management LLC owned approximately 9.05% of Sutro Biopharma worth $13,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers increased its position in Sutro Biopharma by 6.1% during the 4th quarter. Rhumbline Advisers now owns 126,698 shares of the company's stock valued at $233,000 after buying an additional 7,320 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Sutro Biopharma by 351.0% in the 4th quarter. Prudential Financial Inc. now owns 547,510 shares of the company's stock worth $1,007,000 after buying an additional 426,100 shares during the last quarter. LPL Financial LLC grew its holdings in Sutro Biopharma by 34.2% during the fourth quarter. LPL Financial LLC now owns 362,232 shares of the company's stock valued at $667,000 after purchasing an additional 92,333 shares during the period. Dimensional Fund Advisors LP grew its holdings in Sutro Biopharma by 15.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company's stock valued at $2,091,000 after purchasing an additional 156,139 shares during the period. Finally, American Century Companies Inc. grew its holdings in Sutro Biopharma by 29.1% during the fourth quarter. American Century Companies Inc. now owns 93,033 shares of the company's stock valued at $171,000 after purchasing an additional 20,958 shares during the period. Hedge funds and other institutional investors own 96.99% of the company's stock.

Sutro Biopharma Stock Performance

STRO stock opened at $0.91 on Friday. The firm has a market cap of $76.91 million, a PE ratio of -0.57 and a beta of 1.77. The firm's 50 day moving average price is $0.80 and its 200-day moving average price is $1.76. Sutro Biopharma, Inc. has a one year low of $0.52 and a one year high of $5.17.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.28). The company had revenue of $17.40 million during the quarter, compared to analyst estimates of $11.61 million. Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. Equities research analysts predict that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STRO. Piper Sandler set a $2.00 price objective on Sutro Biopharma in a research note on Friday, March 14th. HC Wainwright reissued a "neutral" rating and set a $2.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, April 29th. Bank of America cut Sutro Biopharma from a "buy" rating to an "underperform" rating and cut their target price for the company from $11.00 to $1.00 in a research note on Friday, March 14th. Citizens Jmp cut Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research note on Friday, March 14th. Finally, Wedbush cut Sutro Biopharma from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $8.00 to $2.00 in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $6.14.

About Sutro Biopharma

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.

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