Eversept Partners LP Decreases Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

Eversept Partners LP reduced its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 62.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694,408 shares of the company’s stock after selling 1,147,581 shares during the period. Eversept Partners LP owned approximately 0.84% of Sutro Biopharma worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in Sutro Biopharma by 6.1% in the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock valued at $233,000 after buying an additional 7,320 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Sutro Biopharma by 351.0% during the 4th quarter. Prudential Financial Inc. now owns 547,510 shares of the company’s stock valued at $1,007,000 after buying an additional 426,100 shares during the last quarter. Barclays PLC grew its holdings in Sutro Biopharma by 385.3% during the third quarter. Barclays PLC now owns 273,019 shares of the company’s stock worth $944,000 after acquiring an additional 216,757 shares during the period. Jane Street Group LLC grew its stake in shares of Sutro Biopharma by 30.7% during the 3rd quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock worth $374,000 after purchasing an additional 25,416 shares during the period. Finally, State Street Corp boosted its stake in shares of Sutro Biopharma by 5.2% during the 3rd quarter. State Street Corp now owns 1,647,162 shares of the company’s stock worth $5,699,000 after acquiring an additional 81,855 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 equities analysts have issued reports on the company. Citizens Jmp downgraded Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research report on Friday, March 14th. Wedbush cut 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 report on Friday, March 14th. Bank of America downgraded Sutro Biopharma from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $11.00 to $1.00 in a research report on Friday, March 14th. HC Wainwright reissued a “neutral” rating and set a $2.00 price target (down previously from $12.00) on shares of Sutro Biopharma in a research report on Monday, March 17th. Finally, Piper Sandler set a $2.00 target price on shares of Sutro Biopharma in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three 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 $6.63.

Sutro Biopharma Stock Up 5.3 %

Shares of NASDAQ:STRO opened at $0.55 on Tuesday. Sutro Biopharma, Inc. has a fifty-two week low of $0.52 and a fifty-two week high of $5.17. The firm’s 50 day moving average price is $1.05 and its 200 day moving average price is $2.08. The stock has a market cap of $46.59 million, a price-to-earnings ratio of -0.34 and a beta of 1.70.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($2.10). The business had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $10.44 million. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. During the same period last year, the firm earned ($1.78) earnings per share. On average, equities analysts anticipate 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.