Stempoint Capital LP Makes New Investment in Sutro Biopharma, Inc. $STRO

Stempoint Capital LP bought a new stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,295 shares of the company’s stock, valued at approximately $580,000. Stempoint Capital LP owned about 0.14% of Sutro Biopharma at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after acquiring an additional 1,206,330 shares during the last quarter. Orbimed Advisors LLC purchased a new position in Sutro Biopharma in the 1st quarter valued at $19,956,000. Jane Street Group LLC purchased a new position in Sutro Biopharma in the 2nd quarter valued at $492,000. ADAR1 Capital Management LLC boosted its stake in Sutro Biopharma by 681.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after purchasing an additional 457,364 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Sutro Biopharma during the 3rd quarter worth $387,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Down 1.7%

Shares of STRO opened at $23.32 on Thursday. Sutro Biopharma, Inc. has a 52-week low of $7.15 and a 52-week high of $43.85. The stock has a fifty day simple moving average of $27.75 and a two-hundred day simple moving average of $25.16. The company has a market capitalization of $386.41 million, a PE ratio of -2.11 and a beta of 1.51.

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

Analyst Upgrades and Downgrades

STRO has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Friday, May 8th. HC Wainwright boosted their price target on shares of Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Mizuho set a $50.00 price objective on shares of Sutro Biopharma and gave the company an “outperform” rating in a research note on Thursday, April 30th. Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Finally, Leerink Partners set a $43.00 target price on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research note on Friday, May 15th. Two equities research 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 stock. According to data from MarketBeat.com, Sutro Biopharma has an average rating of “Moderate Buy” and a consensus price target of $52.44.

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.