Sutro Biopharma (NASDAQ:STRO) Trading Down 10.1% – Here’s What Happened

Sutro Biopharma, Inc. (NASDAQ:STRO) shares were down 10.1% during trading on Monday . The stock traded as low as $35.48 and last traded at $35.05. Approximately 118,800 shares changed hands during trading, a decline of 36% from the average daily volume of 185,397 shares. The stock had previously closed at $38.97.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citizens Jmp boosted their price target on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a report on Thursday, April 23rd. Mizuho set a $50.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Truist Financial upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Monday, May 4th. Finally, HC Wainwright boosted their price target on shares of Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Sutro Biopharma currently has an average rating of “Moderate Buy” and an average target price of $43.78.

Sutro Biopharma Stock Performance

The company has a 50-day moving average price of $29.19 and a 200-day moving average price of $18.33. The firm has a market capitalization of $570.34 million, a price-to-earnings ratio of -2.00 and a beta of 1.63.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The firm had revenue of $14.52 million for the quarter, compared to analyst estimates of $8.89 million. On average, research analysts expect that Sutro Biopharma, Inc. will post -9.04 earnings per share for the current fiscal year.

Institutional Trading of Sutro Biopharma

A number of large investors have recently made changes to their positions in STRO. Invesco Ltd. boosted its position in shares of Sutro Biopharma by 137.8% in the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after purchasing an additional 53,390 shares during the period. AQR Capital Management LLC boosted its position in shares of Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after purchasing an additional 1,206,330 shares during the period. Strs Ohio acquired a new stake in shares of Sutro Biopharma in the 1st quarter valued at about $99,000. Marshall Wace LLP acquired a new stake in shares of Sutro Biopharma in the 2nd quarter valued at about $166,000. Finally, Cerity Partners LLC boosted its position in shares of Sutro Biopharma by 169.9% in the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock valued at $75,000 after purchasing an additional 66,372 shares during the period. 96.99% of the stock is owned by institutional investors and hedge funds.

Sutro Biopharma Company Profile

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.