Perceptive Advisors LLC Makes New $17.82 Million Investment in Sutro Biopharma, Inc. $STRO

Perceptive Advisors LLC bought a new stake in Sutro Biopharma, Inc. (NASDAQ:STRO) during the 1st quarter, Holdings Channel reports. The firm bought 715,307 shares of the company’s stock, valued at approximately $17,818,000.

Several other hedge funds have also made changes to their positions in the company. Bank of America Corp DE increased its holdings in shares of Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after buying an additional 14,661 shares during the last quarter. Stempoint Capital LP purchased a new stake in shares of Sutro Biopharma during the 1st quarter valued at approximately $580,000. ADAR1 Capital Management LLC lifted its holdings in Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock valued at $13,064,000 after acquiring an additional 457,364 shares during the last quarter. Orbimed Advisors LLC acquired a new position in Sutro Biopharma in the first quarter valued at approximately $19,956,000. Finally, Affinity Asset Advisors LLC grew its position in Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after acquiring an additional 321,137 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $24.17 on Friday. Sutro Biopharma, Inc. has a fifty-two week low of $7.15 and a fifty-two week high of $43.85. The company has a 50 day moving average price of $27.60 and a 200 day moving average price of $25.24. The stock has a market capitalization of $400.50 million, a P/E ratio of -2.19 and a beta of 1.51.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to the consensus estimate of $8.89 million. Research analysts forecast that Sutro Biopharma, Inc. will post -9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on STRO. Truist Financial assumed coverage on Sutro Biopharma in a research note on Thursday, June 11th. They set a “buy” rating and a $50.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. Lifesci Capital upgraded Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Mizuho set a $50.00 price objective on Sutro Biopharma and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, Citizens Jmp boosted their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sutro Biopharma has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

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.