Eversept Partners LP Trims Stake in Sutro Biopharma, Inc. $STRO

Eversept Partners LP lowered its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 62.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,161 shares of the company’s stock after selling 120,410 shares during the period. Eversept Partners LP owned 0.44% of Sutro Biopharma worth $1,822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State of Tennessee Department of Treasury purchased a new stake in shares of Sutro Biopharma in the 4th quarter worth about $86,000. Sigma Planning Corp purchased a new position in shares of Sutro Biopharma during the first quarter valued at approximately $312,000. Jane Street Group LLC purchased a new position in shares of Sutro Biopharma during the fourth quarter valued at approximately $265,000. Bridgeway Capital Management LLC boosted its position in shares of Sutro Biopharma by 232.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock worth $37,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Sutro Biopharma by 51.3% in the 3rd quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock worth $104,000 after purchasing an additional 40,488 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Analyst Ratings Changes

STRO has been the subject of a number of analyst reports. 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. Citizens Jmp lifted their target price 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. Barclays started coverage on shares of Sutro Biopharma in a research note on Thursday, May 28th. They issued an “overweight” rating and a $56.00 target price on the stock. Lifesci Capital upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Finally, HC Wainwright raised their price target on shares of Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 15th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, Sutro Biopharma has an average rating of “Moderate Buy” and a consensus target price of $52.44.

Sutro Biopharma Price Performance

Sutro Biopharma stock opened at $24.01 on Tuesday. Sutro Biopharma, Inc. has a one year low of $7.15 and a one year high of $43.85. The business’s fifty day moving average is $28.06 and its 200 day moving average is $24.99. The stock has a market capitalization of $397.85 million, a PE ratio of -2.17 and a beta of 1.51.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. As a group, sell-side analysts expect that Sutro Biopharma, Inc. will post -9 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.