Sutro Biopharma, Inc. $STRO Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO) by 20.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,901 shares of the company’s stock after selling 52,094 shares during the period. Charles Schwab Investment Management Inc. owned about 0.24% of Sutro Biopharma worth $130,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STRO. Wells Fargo & Company MN raised its stake in Sutro Biopharma by 24.8% in the fourth quarter. Wells Fargo & Company MN now owns 52,738 shares of the company’s stock valued at $97,000 after buying an additional 10,466 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Sutro Biopharma by 15.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company’s stock valued at $2,091,000 after buying an additional 156,139 shares in the last quarter. Northern Trust Corp raised its stake in Sutro Biopharma by 2.3% in the fourth 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. BNP Paribas Financial Markets raised its stake in Sutro Biopharma by 82.7% in the fourth quarter. BNP Paribas Financial Markets now owns 150,758 shares of the company’s stock valued at $277,000 after buying an additional 68,234 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Sutro Biopharma by 91.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 189,700 shares of the company’s stock worth $349,000 after purchasing an additional 90,500 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Bank of America cut their target price on Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating on the stock in a research report on Monday, May 19th. Piper Sandler upgraded 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. Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Finally, Wells Fargo & Company cut their target price on Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.47.

Sutro Biopharma Stock Up 1.0%

Shares of NASDAQ STRO opened at $1.02 on Friday. Sutro Biopharma, Inc. has a 52 week low of $0.52 and a 52 week high of $4.80. The firm has a 50-day moving average price of $0.82 and a 200 day moving average price of $0.91. The stock has a market capitalization of $86.47 million, a price-to-earnings ratio of -0.40 and a beta of 1.57.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.25. The business had revenue of $63.74 million for the quarter, compared to analyst estimates of $14.55 million. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 201.32%. Equities research analysts expect that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal 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.