Renaissance Technologies LLC Lowers Holdings in Sutro Biopharma, Inc. $STRO

Renaissance Technologies LLC trimmed its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 20.4% in the 1st quarter, Holdings Channel reports. The firm owned 97,824 shares of the company’s stock after selling 25,041 shares during the quarter. Renaissance Technologies LLC’s holdings in Sutro Biopharma were worth $2,437,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Spruce Street Capital LP bought a new position in shares of Sutro Biopharma in the fourth quarter worth $875,000. Jane Street Group LLC purchased a new position in Sutro Biopharma during the second quarter worth about $492,000. Jacobs Levy Equity Management Inc. bought a new position in Sutro Biopharma in the 3rd quarter worth about $387,000. Two Sigma Investments LP increased its stake in Sutro Biopharma by 244.8% in the 3rd quarter. Two Sigma Investments LP now owns 396,785 shares of the company’s stock worth $345,000 after acquiring an additional 281,717 shares during the last quarter. Finally, Shay Capital LLC raised its holdings in shares of Sutro Biopharma by 20.1% in the 3rd quarter. Shay Capital LLC now owns 312,051 shares of the company’s stock valued at $271,000 after acquiring an additional 52,162 shares in the last quarter. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Stifel Nicolaus set a $48.00 price target on Sutro Biopharma and gave the company a “buy” rating in a research report on Friday. HC Wainwright raised their target price on shares of Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a research report on Friday, April 17th. Mizuho set a $50.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Leerink Partners set a $43.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.00.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $25.53 on Tuesday. The firm has a market cap of $423.03 million, a PE ratio of -2.31 and a beta of 1.55. Sutro Biopharma, Inc. has a fifty-two week low of $7.15 and a fifty-two week high of $43.85. The business has a 50 day moving average price of $27.23 and a 200-day moving average price of $25.85.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million for the quarter, compared to analysts’ expectations of $8.89 million. Research analysts predict that Sutro Biopharma, Inc. will post -9.06 EPS for the current year.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.