Algert Global LLC Trims Stock Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

Algert Global LLC cut its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 46.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,829 shares of the company’s stock after selling 10,932 shares during the period. Algert Global LLC’s holdings in Sutro Biopharma were worth $38,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its position in Sutro Biopharma by 214.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock worth $6,043,000 after purchasing an additional 729,239 shares in the last quarter. Acadian Asset Management LLC boosted its position in Sutro Biopharma by 30.8% during the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after purchasing an additional 370,705 shares in the last quarter. AQR Capital Management LLC boosted its position in Sutro Biopharma by 691.5% during the second quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock worth $831,000 after purchasing an additional 247,694 shares in the last quarter. Renaissance Technologies LLC boosted its position in Sutro Biopharma by 48.1% during the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock worth $2,108,000 after purchasing an additional 233,700 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 purchasing an additional 132,790 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STRO. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a research report on Monday, September 16th. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a research report on Friday. Truist Financial decreased their target price on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a research report on Friday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Sutro Biopharma has an average rating of “Buy” and a consensus price target of $12.13.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock opened at $3.79 on Friday. Sutro Biopharma, Inc. has a one year low of $2.01 and a one year high of $6.13. The company has a market cap of $310.63 million, a price-to-earnings ratio of -2.07 and a beta of 1.17. The business’s 50 day moving average price is $3.94 and its 200 day moving average price is $3.93.

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