Rhumbline Advisers Buys 21,935 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Rhumbline Advisers lifted its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 23.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 116,099 shares of the company’s stock after purchasing an additional 21,935 shares during the quarter. Rhumbline Advisers’ holdings in Sutro Biopharma were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Opaleye Management Inc. purchased a new position in Sutro Biopharma during the fourth quarter worth about $1,293,000. Acadian Asset Management LLC grew its position in Sutro Biopharma by 30.5% during the first quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company’s stock worth $6,803,000 after buying an additional 281,224 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Sutro Biopharma during the first quarter worth about $714,000. Kynam Capital Management LP grew its position in Sutro Biopharma by 28.9% during the fourth quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock worth $8,587,000 after buying an additional 449,052 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Sutro Biopharma by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock worth $17,079,000 after buying an additional 132,790 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO opened at $3.50 on Friday. Sutro Biopharma, Inc. has a 52-week low of $2.01 and a 52-week high of $6.13. The firm has a market capitalization of $286.28 million, a P/E ratio of -1.86 and a beta of 1.18. The stock has a 50 day moving average price of $4.04 and a 200-day moving average price of $3.96.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.20. The firm had revenue of $25.71 million during the quarter, compared to analyst estimates of $26.28 million. Sutro Biopharma had a negative return on equity of 102.06% and a negative net margin of 73.48%. On average, equities analysts forecast that Sutro Biopharma, Inc. will post -2.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on STRO shares. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a research report on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a report on Monday, September 16th. Finally, Truist Financial cut their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $12.13.

Sutro Biopharma Company 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.