SG Americas Securities LLC Has $120,000 Stake in Sutro Biopharma, Inc. (NASDAQ:STRO)

SG Americas Securities LLC raised its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO) by 134.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,662 shares of the company’s stock after acquiring an additional 19,890 shares during the period. SG Americas Securities LLC’s holdings in Sutro Biopharma were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after acquiring an additional 5,373 shares during the period. Lazard Asset Management LLC acquired a new position in Sutro Biopharma in the first quarter valued at about $92,000. Price T Rowe Associates Inc. MD grew its stake in Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares during the period. The Manufacturers Life Insurance Company grew its stake in Sutro Biopharma by 27.4% in the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after acquiring an additional 7,082 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Sutro Biopharma in the first quarter valued at about $249,000. 96.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Monday, September 16th. Truist Financial reduced their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Friday, October 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a research report on Friday, October 11th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $12.13.

Sutro Biopharma Price Performance

STRO stock opened at $3.45 on Friday. Sutro Biopharma, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $6.13. The stock has a market capitalization of $282.19 million, a P/E ratio of -1.84 and a beta of 1.17. The business has a 50-day moving average of $3.99 and a 200-day moving average of $3.83.

Sutro Biopharma (NASDAQ:STRO) last released 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. Sutro Biopharma had a negative return on equity of 102.06% and a negative net margin of 73.48%. The business had revenue of $25.71 million for the quarter, compared to analyst estimates of $26.28 million. Equities analysts expect that Sutro Biopharma, Inc. will post -2.96 EPS for the current 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.