Barclays PLC raised its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO – Free Report) by 47.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 121,144 shares of the company’s stock after buying an additional 39,245 shares during the period. Barclays PLC owned about 0.20% of Sutro Biopharma worth $559,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in STRO. BlackRock Inc. increased its stake in shares of Sutro Biopharma by 7.7% in the 3rd quarter. BlackRock Inc. now owns 4,008,370 shares of the company’s stock worth $22,248,000 after purchasing an additional 285,745 shares in the last quarter. State Street Corp increased its stake in shares of Sutro Biopharma by 66.1% in the 1st quarter. State Street Corp now owns 2,642,486 shares of the company’s stock worth $21,721,000 after purchasing an additional 1,051,649 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sutro Biopharma by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,230,997 shares of the company’s stock worth $18,338,000 after purchasing an additional 113,190 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of Sutro Biopharma by 27.9% in the 4th quarter. Verition Fund Management LLC now owns 1,604,229 shares of the company’s stock worth $12,962,000 after purchasing an additional 350,124 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Sutro Biopharma by 20.0% in the 4th quarter. Geode Capital Management LLC now owns 1,021,079 shares of the company’s stock worth $8,250,000 after purchasing an additional 170,332 shares in the last quarter. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently commented on STRO. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, August 14th. Wedbush dropped their target price on shares of Sutro Biopharma from $20.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, August 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Sutro Biopharma in a report on Friday, August 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.
Sutro Biopharma Stock Performance
Shares of Sutro Biopharma stock opened at $4.60 on Friday. The company has a fifty day moving average of $4.63 and a 200 day moving average of $5.00. Sutro Biopharma, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $8.72. The company has a market capitalization of $278.44 million, a P/E ratio of -1.86 and a beta of 0.87.
Sutro Biopharma (NASDAQ:STRO – Get Free Report) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.09. Sutro Biopharma had a negative net margin of 250.87% and a negative return on equity of 69.71%. The business had revenue of $10.41 million during the quarter, compared to the consensus estimate of $10.45 million. Analysts forecast that Sutro Biopharma, Inc. will post -2.95 EPS for the current year.
Sutro Biopharma Company Profile
Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.
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