23,295 Shares in Sutro Biopharma, Inc. $STRO Acquired by Stempoint Capital LP

Stempoint Capital LP bought a new position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,295 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in shares of Sutro Biopharma by 137.8% during the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after purchasing an additional 53,390 shares during the period. AQR Capital Management LLC raised its holdings in Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after buying an additional 1,206,330 shares during the period. Strs Ohio purchased a new stake in Sutro Biopharma in the 1st quarter valued at about $99,000. Marshall Wace LLP acquired a new position in Sutro Biopharma in the second quarter valued at about $166,000. Finally, Cerity Partners LLC lifted its position in Sutro Biopharma by 169.9% in the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock valued at $75,000 after buying an additional 66,372 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on STRO. Truist Financial assumed coverage on shares of Sutro Biopharma in a research report on Thursday, June 11th. They set a “buy” rating and a $50.00 price target for the company. Citigroup restated an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Barclays initiated coverage on shares of Sutro Biopharma in a research report on Thursday, May 28th. They set an “overweight” rating and a $56.00 price objective for the company. Citizens Jmp lifted their target price on shares of Sutro Biopharma from $35.00 to $41.00 and gave the company a “market outperform” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sutro Biopharma has a consensus rating of “Moderate Buy” and a consensus price target of $52.44.

Sutro Biopharma Price Performance

Shares of NASDAQ:STRO opened at $23.32 on Thursday. The firm has a market capitalization of $386.41 million, a PE ratio of -2.11 and a beta of 1.51. Sutro Biopharma, Inc. has a 1 year low of $7.15 and a 1 year high of $43.85. The firm’s 50-day moving average is $27.75 and its two-hundred day moving average is $25.16.

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

Sutro Biopharma 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.