Sutro Biopharma, Inc. (NASDAQ:STRO) Shares Sold by Eversept Partners LP

Eversept Partners LP lessened its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 62.3% during the fourth quarter, HoldingsChannel reports. The fund owned 694,408 shares of the company’s stock after selling 1,147,581 shares during the period. Eversept Partners LP’s holdings in Sutro Biopharma were worth $1,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its position 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 valued at $5,699,000 after acquiring an additional 81,855 shares during the period. Jane Street Group LLC grew its holdings in Sutro Biopharma by 30.7% in the third quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock valued at $374,000 after purchasing an additional 25,416 shares during the last quarter. Barclays PLC raised its stake in shares of Sutro Biopharma by 385.3% during the 3rd quarter. Barclays PLC now owns 273,019 shares of the company’s stock worth $944,000 after buying an additional 216,757 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Sutro Biopharma by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after buying an additional 132,015 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Sutro Biopharma in the 3rd quarter valued at about $77,000. 96.99% of the stock is owned by institutional investors and hedge funds.

Sutro Biopharma Price Performance

STRO opened at $0.55 on Tuesday. The business has a 50 day moving average price of $1.05 and a two-hundred day moving average price of $2.08. The company has a market capitalization of $46.59 million, a price-to-earnings ratio of -0.34 and a beta of 1.70. Sutro Biopharma, Inc. has a 1-year low of $0.52 and a 1-year high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Thursday, March 13th. The company reported ($2.96) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($2.10). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The company had revenue of $14.00 million for the quarter, compared to the consensus estimate of $10.44 million. During the same period in the prior year, the business earned ($1.78) earnings per share. Equities analysts expect that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

Analysts Set New Price Targets

STRO has been the subject of a number of recent research reports. Bank of America cut Sutro Biopharma from a “buy” rating to an “underperform” rating and dropped 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. Citizens Jmp downgraded shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, March 14th. Wedbush downgraded Sutro Biopharma from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $2.00 in a report on Friday, March 14th. Finally, Piper Sandler set a $2.00 price target on shares of Sutro Biopharma in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sutro Biopharma has a consensus rating of “Hold” and a consensus target price of $6.63.

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.