Bank of America Corp DE Sells 22,894 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Bank of America Corp DE reduced its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 17.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 106,258 shares of the company’s stock after selling 22,894 shares during the period. Bank of America Corp DE owned approximately 0.13% of Sutro Biopharma worth $196,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Sutro Biopharma by 15.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company’s stock valued at $2,091,000 after purchasing an additional 156,139 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Sutro Biopharma by 22.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,015,211 shares of the company’s stock valued at $1,868,000 after buying an additional 187,114 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Sutro Biopharma by 2.3% during the 4th quarter. Northern Trust Corp now owns 636,920 shares of the company’s stock valued at $1,172,000 after buying an additional 14,492 shares in the last quarter. Prudential Financial Inc. lifted its position in Sutro Biopharma by 351.0% in the 4th quarter. Prudential Financial Inc. now owns 547,510 shares of the company’s stock worth $1,007,000 after buying an additional 426,100 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in Sutro Biopharma by 34.2% in the fourth quarter. LPL Financial LLC now owns 362,232 shares of the company’s stock worth $667,000 after buying an additional 92,333 shares in the last quarter. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Trading Down 1.5%

STRO stock opened at $0.80 on Monday. The stock has a market capitalization of $67.49 million, a price-to-earnings ratio of -0.50 and a beta of 1.70. The firm’s 50-day moving average price is $0.84 and its two-hundred day moving average price is $1.39. Sutro Biopharma, Inc. has a 12-month low of $0.52 and a 12-month high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.28). The business had revenue of $17.40 million for the quarter, compared to analysts’ expectations of $11.61 million. Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. Equities analysts predict that Sutro Biopharma, Inc. will post -2.92 EPS for the current year.

Analysts Set New Price Targets

STRO has been the topic of several research reports. Wedbush downgraded shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $8.00 to $2.00 in a research note on Friday, March 14th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a report on Tuesday, April 29th. Piper Sandler set a $2.00 price target on shares of Sutro Biopharma in a research note on Friday, March 14th. Citizens Jmp cut Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, March 14th. Finally, Bank of America lowered their target price on Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating for the company in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.11.

Sutro Biopharma Profile

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.