Vestal Point Capital LP Makes New $4.73 Million Investment in Sutro Biopharma, Inc. (NASDAQ:STRO)

Vestal Point Capital LP bought a new stake in Sutro Biopharma, Inc. (NASDAQ:STRO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,570,000 shares of the company’s stock, valued at approximately $4,729,000.

Several other institutional investors have also made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new stake in Sutro Biopharma during the 4th quarter worth about $26,000. China Universal Asset Management Co. Ltd. acquired a new position in 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% in the 4th 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 in the last quarter. ProShare Advisors LLC raised 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 worth $50,000 after purchasing an additional 11,494 shares during the period. Finally, Invesco Ltd. lifted its stake in Sutro Biopharma by 54.2% in the fourth quarter. Invesco Ltd. now owns 38,749 shares of the company’s stock valued at $71,000 after buying an additional 13,620 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Piper Sandler set a $2.00 price objective on shares of Sutro Biopharma in a research report on Friday, March 14th. Citizens Jmp downgraded 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 target price on shares of Sutro Biopharma in a research report on Tuesday, April 29th. Wedbush lowered Sutro Biopharma from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $8.00 to $2.00 in a research note on Friday, March 14th. Finally, Bank of America downgraded Sutro Biopharma from a “buy” rating to an “underperform” rating and cut their price target for the company from $11.00 to $1.00 in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Sutro Biopharma has an average rating of “Hold” and a consensus price target of $6.14.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO opened at $0.91 on Monday. Sutro Biopharma, Inc. has a 52-week low of $0.52 and a 52-week high of $5.17. The firm has a market capitalization of $76.99 million, a P/E ratio of -0.57 and a beta of 1.77. The stock has a 50 day moving average price of $0.80 and a 200-day moving average price of $1.73.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly 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). 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 the consensus estimate of $11.61 million. On average, equities analysts forecast that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

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.