Spruce Street Capital LP Makes New Investment in Sutro Biopharma, Inc. $STRO

Spruce Street Capital LP bought a new position in Sutro Biopharma, Inc. (NASDAQ:STRO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 75,594 shares of the company’s stock, valued at approximately $875,000. Sutro Biopharma makes up about 0.3% of Spruce Street Capital LP’s portfolio, making the stock its 27th largest holding. Spruce Street Capital LP owned 0.89% of Sutro Biopharma as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in Sutro Biopharma in the fourth quarter worth approximately $265,000. Jacobs Levy Equity Management Inc. bought a new stake in Sutro Biopharma in the third quarter worth approximately $387,000. Velan Capital Investment Management LP grew its position in Sutro Biopharma by 2.0% in the third quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock worth $2,709,000 after acquiring an additional 60,000 shares in the last quarter. Bank of America Corp DE grew its position in Sutro Biopharma by 51.3% in the third quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock worth $104,000 after acquiring an additional 40,488 shares in the last quarter. Finally, Shay Capital LLC grew its position in Sutro Biopharma by 20.1% in the third quarter. Shay Capital LLC now owns 312,051 shares of the company’s stock worth $271,000 after acquiring an additional 52,162 shares in the last quarter. 96.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Sunday. Leerink Partners set a $43.00 price objective on shares of Sutro Biopharma and gave the stock an “outperform” rating in a report on Friday, May 15th. HC Wainwright upped their price objective on shares of Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Citizens Jmp upped their price objective 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. Finally, Mizuho set a $50.00 price objective on shares of Sutro Biopharma and gave the stock an “outperform” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

Sutro Biopharma Trading Up 4.9%

NASDAQ STRO opened at $30.20 on Tuesday. The company has a market cap of $500.41 million, a P/E ratio of -2.74 and a beta of 1.54. Sutro Biopharma, Inc. has a 1 year low of $6.74 and a 1 year high of $43.85. The company has a fifty day simple moving average of $31.13 and a 200 day simple moving average of $21.12.

Sutro Biopharma (NASDAQ:STRO) last released 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 analysts’ expectations of $8.89 million. Equities research analysts forecast that Sutro Biopharma, Inc. will post -9.29 EPS for the current fiscal 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.