MPM Bioimpact LLC Sells 672,002 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

MPM Bioimpact LLC cut its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 23.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,160,062 shares of the company’s stock after selling 672,002 shares during the quarter. MPM Bioimpact LLC’s holdings in Sutro Biopharma were worth $3,975,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sutro Biopharma during the fourth quarter worth $26,000. China Universal Asset Management Co. Ltd. bought a new position in Sutro Biopharma during the 4th quarter worth approximately $32,000. Vontobel Holding Ltd. lifted its holdings in Sutro Biopharma by 66.7% in the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the period. Invesco Ltd. raised its position in shares of Sutro Biopharma by 54.2% in the 4th quarter. Invesco Ltd. now owns 38,749 shares of the company’s stock worth $71,000 after acquiring an additional 13,620 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Sutro Biopharma by 16.6% in the fourth quarter. SG Americas Securities LLC now owns 40,432 shares of the company’s stock worth $74,000 after acquiring an additional 5,770 shares in the last quarter. Institutional investors own 96.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on STRO shares. Citizens Jmp lowered shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Sutro Biopharma in a report on Tuesday, April 29th. Bank of America downgraded shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and lowered their target price for the company from $11.00 to $1.00 in a report on Friday, March 14th. Piper Sandler set a $2.00 price target on shares of Sutro Biopharma in a report on Friday, March 14th. Finally, Wedbush lowered shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $8.00 to $2.00 in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.63.

Sutro Biopharma Price Performance

Shares of NASDAQ:STRO opened at $0.82 on Wednesday. The stock’s 50-day moving average is $0.83 and its 200 day moving average is $1.80. The company has a market cap of $68.76 million, a PE ratio of -0.51 and a beta of 1.77. Sutro Biopharma, Inc. has a 1 year low of $0.52 and a 1 year high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, May 8th. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.28). The business had revenue of $17.40 million for the quarter, compared to the consensus estimate of $11.61 million. Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. Analysts expect that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

Sutro Biopharma Company Profile

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.