Rhumbline Advisers boosted its position in shares of Sutro Biopharma Inc (NASDAQ:STRO) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,578 shares of the company’s stock after acquiring an additional 1,156 shares during the quarter. Rhumbline Advisers owned 0.06% of Sutro Biopharma worth $123,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in STRO. Vanguard Group Inc. lifted its stake in Sutro Biopharma by 10.5% during the second quarter. Vanguard Group Inc. now owns 195,254 shares of the company’s stock worth $2,222,000 after purchasing an additional 18,482 shares during the last quarter. BlackRock Inc. increased its position in Sutro Biopharma by 72.4% during the second quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock worth $6,193,000 after buying an additional 228,480 shares during the period. Point72 Asset Management L.P. acquired a new position in Sutro Biopharma during the second quarter worth approximately $3,669,000. Bank of New York Mellon Corp increased its position in Sutro Biopharma by 104.8% during the second quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock worth $347,000 after buying an additional 15,591 shares during the period. Finally, Jennison Associates LLC increased its position in Sutro Biopharma by 15.3% during the second quarter. Jennison Associates LLC now owns 158,874 shares of the company’s stock worth $1,808,000 after buying an additional 21,086 shares during the period. Institutional investors own 51.08% of the company’s stock.
STRO has been the topic of several research analyst reports. Zacks Investment Research lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 17th. ValuEngine lowered Sutro Biopharma from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Sutro Biopharma in a research note on Monday, October 21st. JMP Securities restated a “market outperform” rating and issued a $16.00 price target on shares of Sutro Biopharma in a research note on Thursday, September 5th. Finally, Wedbush restated an “outperform” rating on shares of Sutro Biopharma in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.40.
STRO opened at $11.08 on Monday. Sutro Biopharma Inc has a one year low of $7.69 and a one year high of $12.49. The business’s fifty day moving average is $10.37 and its two-hundred day moving average is $10.40. The company has a market cap of $255.84 million, a price-to-earnings ratio of -1.81 and a beta of 1.12.
Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Friday, November 8th. The company reported ($0.56) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.09. The business had revenue of $12.28 million during the quarter, compared to analyst estimates of $8.88 million. Equities analysts anticipate that Sutro Biopharma Inc will post -2.49 EPS for the current fiscal year.
Sutro Biopharma Profile
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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