Insider Buying: Sutro Biopharma (NASDAQ:STRO) Insider Acquires $13,600.00 in Stock

Sutro Biopharma, Inc. (NASDAQ:STRO) insider Hans-Peter Gerber bought 17,000 shares of Sutro Biopharma stock in a transaction that occurred on Wednesday, October 15th. The shares were bought at an average cost of $0.80 per share, with a total value of $13,600.00. Following the acquisition, the insider directly owned 71,832 shares in the company, valued at $57,465.60. This trade represents a 31.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sutro Biopharma Stock Up 14.7%

NASDAQ STRO opened at $1.01 on Friday. The company has a market capitalization of $85.62 million, a P/E ratio of -0.40 and a beta of 1.61. Sutro Biopharma, Inc. has a 12-month low of $0.52 and a 12-month high of $4.60. The firm has a 50-day moving average price of $0.88 and a two-hundred day moving average price of $0.84.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.25. The firm had revenue of $63.74 million during the quarter, compared to the consensus estimate of $14.55 million. Sutro Biopharma had a negative net margin of 201.32% and a negative return on equity of 852.70%. Equities analysts expect that Sutro Biopharma, Inc. will post -2.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on STRO shares. Wells Fargo & Company cut their price objective on shares of Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday, August 12th. Wall Street Zen raised shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sutro Biopharma in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Sutro Biopharma has a consensus rating of “Hold” and a consensus price target of $4.47.

Hedge Funds Weigh In On Sutro Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Shay Capital LLC raised its position in shares of Sutro Biopharma by 26.4% in the 2nd quarter. Shay Capital LLC now owns 259,889 shares of the company’s stock valued at $186,000 after buying an additional 54,269 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Sutro Biopharma in the 2nd quarter valued at approximately $492,000. RBF Capital LLC acquired a new position in shares of Sutro Biopharma in the 2nd quarter valued at approximately $114,000. Velan Capital Investment Management LP increased its position in Sutro Biopharma by 197.1% during the 2nd quarter. Velan Capital Investment Management LP now owns 3,060,000 shares of the company’s stock worth $2,185,000 after purchasing an additional 2,030,000 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Sutro Biopharma in the 2nd quarter valued at approximately $82,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

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.