Perceptive Advisors LLC Invests $17.82 Million in Sutro Biopharma, Inc. $STRO

Perceptive Advisors LLC purchased a new position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 715,307 shares of the company’s stock, valued at approximately $17,818,000. Perceptive Advisors LLC owned about 4.32% of Sutro Biopharma as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in Sutro Biopharma by 348.1% in the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after buying an additional 14,661 shares during the last quarter. Stempoint Capital LP acquired a new position in shares of Sutro Biopharma during the first quarter valued at approximately $580,000. ADAR1 Capital Management LLC lifted its position in shares of Sutro Biopharma by 681.8% in the first quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock valued at $13,064,000 after acquiring an additional 457,364 shares in the last quarter. Orbimed Advisors LLC purchased a new position in shares of Sutro Biopharma in the first quarter valued at approximately $19,956,000. Finally, Affinity Asset Advisors LLC lifted its position in shares of Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after acquiring an additional 321,137 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Price Performance

STRO stock opened at $24.17 on Friday. The business has a 50 day simple moving average of $27.60 and a 200-day simple moving average of $25.24. The firm has a market capitalization of $400.50 million, a PE ratio of -2.19 and a beta of 1.51. Sutro Biopharma, Inc. has a 1 year low of $7.15 and a 1 year high of $43.85.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial began coverage on Sutro Biopharma in a research report on Thursday, June 11th. They set a “buy” rating and a $50.00 price target for the company. Citigroup restated an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Mizuho set a $50.00 target price on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sutro Biopharma currently has a consensus rating of “Moderate Buy” and an average target price of $52.44.

Sutro Biopharma 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.