Orbimed Advisors LLC Makes New Investment in Sutro Biopharma, Inc. $STRO

Orbimed Advisors LLC purchased a new position in Sutro Biopharma, Inc. (NASDAQ:STRO) during the first quarter, Holdings Channel reports. The fund purchased 801,144 shares of the company’s stock, valued at approximately $19,956,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Sutro Biopharma by 1,052.8% during the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after acquiring an additional 1,206,330 shares during the last quarter. Jane Street Group LLC bought a new position in Sutro Biopharma in the second quarter valued at $492,000. Jacobs Levy Equity Management Inc. purchased a new stake in Sutro Biopharma during the third quarter valued at about $387,000. Affinity Asset Advisors LLC raised its position in Sutro Biopharma by 42.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after purchasing an additional 321,137 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Sutro Biopharma by 244.8% during the third quarter. Two Sigma Investments LP now owns 396,785 shares of the company’s stock worth $345,000 after purchasing an additional 281,717 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Leerink Partners set a $43.00 price objective on Sutro Biopharma and gave the company an “outperform” rating in a research report on Friday, May 15th. Mizuho set a $50.00 target price on Sutro Biopharma and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. Barclays began coverage on shares of Sutro Biopharma in a research report on Thursday, May 28th. They set an “overweight” rating and a $56.00 price target on the stock. Finally, Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.44.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO opened at $22.88 on Monday. The stock’s 50-day moving average price is $28.27 and its 200-day moving average price is $24.91. Sutro Biopharma, Inc. has a 12-month low of $7.15 and a 12-month high of $43.85. The stock has a market capitalization of $379.12 million, a P/E ratio of -2.07 and a beta of 1.51.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The company had revenue of $14.52 million for the quarter, compared to the consensus estimate of $8.89 million. As a group, research analysts predict that Sutro Biopharma, Inc. will post -9 EPS for the current year.

Sutro Biopharma 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.