Sutro Biopharma (NASDAQ:STRO) Stock Price Down 4.8% – Here’s Why

Sutro Biopharma, Inc. (NASDAQ:STRO) shares dropped 4.8% on Thursday . The company traded as low as $30.23 and last traded at $30.31. Approximately 93,071 shares were traded during mid-day trading, a decline of 63% from the average session volume of 250,598 shares. The stock had previously closed at $31.84.

Analyst Upgrades and Downgrades

STRO has been the topic of a number of analyst reports. Barclays began coverage on Sutro Biopharma in a research report on Thursday, May 28th. They set an “overweight” rating and a $56.00 target price on the stock. Leerink Partners set a $43.00 price target on Sutro Biopharma and gave the stock an “outperform” rating in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Lifesci Capital upgraded Sutro Biopharma to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Truist Financial began coverage on Sutro Biopharma in a research note on Thursday, June 11th. They set a “buy” rating and a $50.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.44.

Sutro Biopharma Price Performance

The firm has a market cap of $502.24 million, a price-to-earnings ratio of -2.75 and a beta of 1.51. The business has a fifty day simple moving average of $31.41 and a 200 day simple moving average of $23.70.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The firm had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. On average, research analysts anticipate that Sutro Biopharma, Inc. will post -9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in shares of Sutro Biopharma by 1,052.8% during the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after buying an additional 1,206,330 shares in the last quarter. Orbimed Advisors LLC purchased a new position in shares of Sutro Biopharma in the first quarter worth about $19,956,000. Perceptive Advisors LLC purchased a new position in shares of Sutro Biopharma in the first quarter worth about $17,818,000. Jane Street Group LLC acquired a new position in Sutro Biopharma during the second quarter worth about $492,000. Finally, ADAR1 Capital Management LLC boosted its position in Sutro Biopharma by 681.8% during the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after acquiring an additional 457,364 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.