Sutro Biopharma (NASDAQ:STRO) Trading Down 7.1% – Time to Sell?

Sutro Biopharma, Inc. (NASDAQ:STRO) shares traded down 7.1% on Wednesday . The stock traded as low as $31.51 and last traded at $30.8330. 33,344 shares were traded during mid-day trading, a decline of 86% from the average session volume of 240,835 shares. The stock had previously closed at $33.20.

Analyst Upgrades and Downgrades

STRO has been the topic of several research reports. Lifesci Capital upgraded shares of Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Friday, May 8th. Wells Fargo & Company raised Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $27.00 in a research report on Tuesday, March 24th. HC Wainwright upped their price target on Sutro Biopharma from $28.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.44.

Sutro Biopharma Stock Performance

The firm has a market cap of $517.58 million, a P/E ratio of -2.83 and a beta of 1.54. The stock’s 50 day simple moving average is $31.82 and its 200 day simple moving average is $22.80.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $8.89 million. As a group, analysts forecast that Sutro Biopharma, Inc. will post -9 EPS for the current fiscal year.

Hedge Funds Weigh In On Sutro Biopharma

Several large investors have recently added to or reduced their stakes in the business. Velan Capital Investment Management LP lifted its position in Sutro Biopharma by 2.0% in the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock valued at $2,709,000 after acquiring an additional 60,000 shares in the last quarter. UBS Group AG increased its holdings in Sutro Biopharma by 14.0% during the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock worth $1,602,000 after purchasing an additional 226,955 shares in the last quarter. AQR Capital Management LLC raised its stake 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 worth $859,000 after purchasing an additional 1,206,330 shares during the last quarter. Affinity Asset Advisors LLC lifted its holdings 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 purchasing an additional 321,137 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new position in shares of Sutro Biopharma in the first quarter valued at approximately $19,956,000. Institutional investors own 96.99% of the company’s stock.

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.