Adage Capital Partners GP L.L.C. Decreases Stock Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

Adage Capital Partners GP L.L.C. cut its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO) by 11.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,000,000 shares of the company’s stock after selling 250,132 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Sutro Biopharma were worth $3,680,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake 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. Dimensional Fund Advisors LP lifted its holdings in shares of Sutro Biopharma by 15.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company’s stock valued at $2,091,000 after acquiring an additional 156,139 shares during the last quarter. Renaissance Technologies LLC grew its position in Sutro Biopharma by 22.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,015,211 shares of the company’s stock worth $1,868,000 after acquiring an additional 187,114 shares in the last quarter. Prudential Financial Inc. increased its stake in Sutro Biopharma by 351.0% during the fourth quarter. Prudential Financial Inc. now owns 547,510 shares of the company’s stock worth $1,007,000 after acquiring an additional 426,100 shares during the last quarter. Finally, LPL Financial LLC raised its position in Sutro Biopharma by 34.2% during the fourth quarter. LPL Financial LLC now owns 362,232 shares of the company’s stock valued at $667,000 after purchasing an additional 92,333 shares during the period. Institutional investors own 96.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citizens Jmp cut Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. HC Wainwright reiterated a “neutral” rating and set a $2.00 price objective on shares of Sutro Biopharma in a research report on Tuesday. Wedbush downgraded shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $8.00 to $2.00 in a research note on Friday, March 14th. Piper Sandler set a $2.00 price target on shares of Sutro Biopharma in a research note on Friday, March 14th. Finally, Bank of America lowered shares of 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. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.63.

Sutro Biopharma Price Performance

Shares of STRO opened at $0.87 on Wednesday. The firm has a market capitalization of $73.79 million, a price-to-earnings ratio of -0.54 and a beta of 1.70. The company has a 50-day moving average of $0.95 and a 200 day moving average of $1.99. Sutro Biopharma, Inc. has a 1-year low of $0.52 and a 1-year high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results 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 net margin of 77.01% and a negative return on equity of 101.89%. 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 firm posted ($1.78) EPS. On average, equities analysts anticipate that Sutro Biopharma, Inc. will post -2.92 earnings per share for the current fiscal year.

About Sutro Biopharma

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.