Sutro Biopharma (NASDAQ:STRO) Stock Price Down 10.1% – Time to Sell?

Sutro Biopharma, Inc. (NASDAQ:STRO)’s stock price dropped 10.1% on Monday . The company 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.

Wall Street Analyst Weigh In

STRO has been the subject of a number of recent research reports. Mizuho set a $50.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Lifesci Capital raised Sutro Biopharma to a “strong-buy” rating in a research report on Friday, May 1st. HC Wainwright increased their price objective on Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Leerink Partners set a $43.00 price objective on Sutro Biopharma and gave the stock an “outperform” rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.78.

Sutro Biopharma Trading Down 11.7%

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

Sutro Biopharma (NASDAQ:STRO) last released its quarterly 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 firm had revenue of $14.52 million during the quarter, compared to the consensus estimate of $8.89 million. As a group, equities analysts expect that Sutro Biopharma, Inc. will post -9.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after buying an additional 1,206,330 shares during the last quarter. Orbimed Advisors LLC acquired a new position in shares of Sutro Biopharma in the first quarter valued at approximately $19,956,000. Jane Street Group LLC acquired a new position in shares of Sutro Biopharma in the second quarter valued at approximately $492,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Sutro Biopharma in the third quarter valued at approximately $387,000. Finally, Affinity Asset Advisors LLC raised its position in shares of Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after buying an additional 321,137 shares during the last quarter. 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.