OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Sutro Biopharma, Inc. (NASDAQ:STRO) by 11.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 300,621 shares of the company’s stock after selling 37,601 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sutro Biopharma were worth $553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STRO. Dynamic Technology Lab Private Ltd purchased a new stake in Sutro Biopharma in the fourth quarter valued at $26,000. China Universal Asset Management Co. Ltd. purchased a new position in shares of Sutro Biopharma in the fourth quarter valued at approximately $32,000. Vontobel Holding Ltd. boosted its position in Sutro Biopharma by 66.7% in the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock valued at $46,000 after buying an additional 10,000 shares during the period. Invesco Ltd. grew its stake in Sutro Biopharma by 54.2% during the 4th quarter. Invesco Ltd. now owns 38,749 shares of the company’s stock worth $71,000 after purchasing an additional 13,620 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Sutro Biopharma by 16.6% during the fourth quarter. SG Americas Securities LLC now owns 40,432 shares of the company’s stock worth $74,000 after buying an additional 5,770 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Price Performance

Shares of STRO opened at $0.82 on Wednesday. Sutro Biopharma, Inc. has a 1-year low of $0.52 and a 1-year high of $5.17. The firm has a 50 day simple moving average of $0.83 and a 200-day simple moving average of $1.80. The stock has a market cap of $68.76 million, a price-to-earnings ratio of -0.51 and a beta of 1.77.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.28). Sutro Biopharma had a negative net margin of 77.01% and a negative return on equity of 101.89%. The firm had revenue of $17.40 million during the quarter, compared to analyst estimates of $11.61 million. On average, equities analysts expect that Sutro Biopharma, Inc. will post -2.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on STRO. Wedbush lowered Sutro Biopharma from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $8.00 to $2.00 in a report on Friday, March 14th. Bank of America cut shares of Sutro Biopharma from a “buy” rating to an “underperform” rating and cut their target price for the company from $11.00 to $1.00 in a report on Friday, March 14th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price objective on shares of Sutro Biopharma in a research report on Tuesday, April 29th. Piper Sandler set a $2.00 target price on shares of Sutro Biopharma in a research note on Friday, March 14th. Finally, Citizens Jmp downgraded Sutro Biopharma from an “outperform” rating to a “market perform” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.63.

Sutro Biopharma 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.