Seven Fleet Capital Management LP Buys Shares of 159,118 Sutro Biopharma, Inc. $STRO

Seven Fleet Capital Management LP bought a new stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) during the second quarter, HoldingsChannel.com reports. The fund bought 159,118 shares of the company’s stock, valued at approximately $5,283,000. Sutro Biopharma makes up about 0.9% of Seven Fleet Capital Management LP’s holdings, making the stock its 27th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Merck & Co. Inc. purchased a new position in Sutro Biopharma during the 2nd quarter valued at $9,042,053. Affinity Asset Advisors LLC increased its stake in Sutro Biopharma by 42.9% in the first quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock worth $26,642,000 after purchasing an additional 321,137 shares during the period. Perceptive Advisors LLC purchased a new stake in Sutro Biopharma in the first quarter worth $17,818,000. Orbimed Advisors LLC bought a new stake in shares of Sutro Biopharma during the first quarter worth $19,956,000. Finally, Spruce Street Capital LP bought a new stake in shares of Sutro Biopharma during the fourth quarter worth $875,000. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on STRO. Citigroup restated a “market outperform” rating on shares of Sutro Biopharma in a report on Thursday, August 13th. Citizens Jmp decreased their price objective on shares of Sutro Biopharma from $41.00 to $34.00 and set a “market outperform” rating for the company in a report on Thursday, August 13th. Wall Street Zen cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, June 14th. Truist Financial assumed coverage on shares of Sutro Biopharma in a research note on Thursday, June 11th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $47.30.

Sutro Biopharma Stock Down 2.3%

Shares of NASDAQ:STRO opened at $20.07 on Friday. The firm has a 50 day moving average of $24.59 and a 200 day moving average of $26.55. The company has a market capitalization of $332.78 million, a price-to-earnings ratio of -1.68 and a beta of 1.48. Sutro Biopharma, Inc. has a 52 week low of $7.15 and a 52 week high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Wednesday, August 12th. The company reported ($2.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.19) by ($0.14). The business had revenue of $9.84 million during the quarter, compared to analyst estimates of $11.96 million. On average, sell-side analysts expect that Sutro Biopharma, Inc. will post -8.41 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.