Suvretta Capital Management LLC Buys 275,000 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Suvretta Capital Management LLC lifted its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,462,495 shares of the company's stock after acquiring an additional 275,000 shares during the period. 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.

Several other institutional investors and hedge funds also recently made changes to their positions in STRO. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sutro Biopharma during the fourth quarter valued at approximately $26,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Sutro Biopharma during the fourth quarter valued at approximately $32,000. Vontobel Holding Ltd. increased its position in shares of Sutro Biopharma by 66.7% during the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock valued at $46,000 after acquiring an additional 10,000 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Sutro Biopharma by 74.3% during the fourth quarter. ProShare Advisors LLC now owns 26,961 shares of the company's stock valued at $50,000 after acquiring an additional 11,494 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Sutro Biopharma by 54.2% in the fourth quarter. Invesco Ltd. now owns 38,749 shares of the company's stock worth $71,000 after purchasing an additional 13,620 shares during the last quarter. Institutional investors own 96.99% of the company's stock.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock traded up $0.05 on Thursday, hitting $0.89. 383,908 shares of the company's stock were exchanged, compared to its average volume of 1,091,985. Sutro Biopharma, Inc. has a 1 year low of $0.52 and a 1 year high of $5.17. The company has a 50-day simple moving average of $0.78 and a 200-day simple moving average of $1.70. The stock has a market capitalization of $75.25 million, a PE ratio of -0.56 and a beta of 1.77.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America dropped their target price on shares of Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating on the stock in a report on Monday. Wedbush cut shares of Sutro Biopharma from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $8.00 to $2.00 in a report on Friday, March 14th. Citizens Jmp cut shares of Sutro Biopharma from an "outperform" rating to a "market perform" rating in a report on Friday, March 14th. Piper Sandler set a $2.00 target price on shares of Sutro Biopharma in a report on Friday, March 14th. Finally, HC Wainwright restated a "neutral" rating and issued a $2.00 target price on shares of Sutro Biopharma in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Sutro Biopharma currently has a consensus rating of "Hold" and an average price target of $6.11.

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.