Exchange Traded Concepts LLC Has $89,000 Stock Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

Exchange Traded Concepts LLC lifted its stake in Sutro Biopharma, Inc. (NASDAQ:STRO) by 201.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,623 shares of the company’s stock after acquiring an additional 91,363 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.17% of Sutro Biopharma worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Sutro Biopharma by 6.1% in the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock worth $233,000 after acquiring an additional 7,320 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Sutro Biopharma by 351.0% in the fourth quarter. Prudential Financial Inc. now owns 547,510 shares of the company’s stock worth $1,007,000 after acquiring an additional 426,100 shares during the last quarter. LPL Financial LLC increased its stake in shares of 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 acquiring an additional 92,333 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Sutro Biopharma by 15.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company’s stock worth $2,091,000 after acquiring an additional 156,139 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Sutro Biopharma by 29.1% in the fourth quarter. American Century Companies Inc. now owns 93,033 shares of the company’s stock worth $171,000 after acquiring an additional 20,958 shares during the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on STRO shares. Citizens Jmp downgraded shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday, March 14th. HC Wainwright reissued a “neutral” rating and set a $2.00 target price on shares of Sutro Biopharma in a research report on Tuesday, April 29th. Piper Sandler raised shares of Sutro Biopharma from a “neutral” rating to an “overweight” rating and set a $2.00 target price on the stock in a research report on Monday, June 16th. Wedbush downgraded shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $8.00 to $2.00 in a research report on Friday, March 14th. Finally, Bank of America lowered their target price on shares of Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating on the stock in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Sutro Biopharma presently has a consensus rating of “Hold” and a consensus target price of $6.11.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO opened at $0.82 on Wednesday. The company has a market cap of $69.46 million, a P/E ratio of -0.28 and a beta of 1.70. The stock’s 50-day moving average is $0.86 and its 200-day moving average is $1.31. Sutro Biopharma, Inc. has a 52-week low of $0.52 and a 52-week high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.28). The business had revenue of $17.40 million during the quarter, compared to analyst estimates of $11.61 million. Sutro Biopharma had a negative net margin of 373.66% and a negative return on equity of 347.60%. As a group, equities analysts predict that Sutro Biopharma, Inc. will post -2.92 EPS for the current year.

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.