Acadian Asset Management LLC Buys 281,224 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Acadian Asset Management LLC boosted its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 30.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,204,253 shares of the company’s stock after acquiring an additional 281,224 shares during the period. Acadian Asset Management LLC owned 1.93% of Sutro Biopharma worth $6,803,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC lifted its position in Sutro Biopharma by 25.6% in the 4th quarter. SG Americas Securities LLC now owns 40,779 shares of the company’s stock valued at $175,000 after acquiring an additional 8,314 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Sutro Biopharma by 14,125.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after acquiring an additional 8,758 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Sutro Biopharma in the 4th quarter valued at approximately $60,000. Parkman Healthcare Partners LLC increased its position in shares of Sutro Biopharma by 1.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,202,431 shares of the company’s stock worth $5,158,000 after buying an additional 20,263 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sutro Biopharma during the first quarter worth $249,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Wall Street Analyst Weigh In

STRO has been the topic of a number of recent research reports. Truist Financial dropped their price objective on shares of Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Oppenheimer reiterated an “outperform” rating and set a $10.00 target price on shares of Sutro Biopharma in a research report on Wednesday, May 15th. Piper Sandler restated an “overweight” rating and issued a $11.00 price objective (down from $12.00) on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Sutro Biopharma in a research note on Tuesday, May 14th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Sutro Biopharma currently has a consensus rating of “Buy” and an average target price of $12.50.

Sutro Biopharma Trading Up 4.8 %

Shares of Sutro Biopharma stock traded up $0.18 during trading on Monday, hitting $3.95. 256,334 shares of the stock traded hands, compared to its average volume of 927,732. The firm has a market cap of $323.07 million, a P/E ratio of -2.05 and a beta of 1.22. Sutro Biopharma, Inc. has a 52-week low of $2.01 and a 52-week high of $6.13. The stock’s fifty day simple moving average is $3.70 and its 200 day simple moving average is $4.11.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.03). Sutro Biopharma had a negative net margin of 74.61% and a negative return on equity of 94.18%. The firm had revenue of $13.01 million during the quarter, compared to analyst estimates of $11.57 million. As a group, equities analysts expect that Sutro Biopharma, Inc. will post -3.19 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.