Millennium Management LLC Has $12.78 Million Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

Millennium Management LLC decreased its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,361,893 shares of the company's stock after selling 374,070 shares during the period. Millennium Management LLC owned 5.33% of Sutro Biopharma worth $12,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Sutro Biopharma by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company's stock worth $102,000 after purchasing an additional 3,578 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock valued at $48,000 after buying an additional 5,373 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Sutro Biopharma by 9.7% in the second quarter. Hsbc Holdings PLC now owns 60,858 shares of the company's stock valued at $173,000 after buying an additional 5,404 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Sutro Biopharma in the first quarter valued at $92,000. Finally, Parkman Healthcare Partners LLC increased its holdings in shares of Sutro Biopharma by 1.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,202,431 shares of the company's stock valued at $5,158,000 after buying an additional 20,263 shares in the last quarter. Institutional investors own 96.99% of the company's stock.

Sutro Biopharma Stock Down 0.8 %

Shares of Sutro Biopharma stock traded down $0.03 on Tuesday, hitting $3.52. 290,061 shares of the company traded hands, compared to its average volume of 843,092. The company has a 50-day moving average price of $3.96 and a 200 day moving average price of $3.94. Sutro Biopharma, Inc. has a 12-month low of $2.01 and a 12-month high of $6.13. The company has a market cap of $287.91 million, a PE ratio of -1.87 and a beta of 1.17.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.20. Sutro Biopharma had a negative net margin of 73.48% and a negative return on equity of 102.06%. The business had revenue of $25.71 million for the quarter, compared to analysts' expectations of $26.28 million. Equities research analysts anticipate that Sutro Biopharma, Inc. will post -2.96 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on STRO shares. Truist Financial dropped their price target on Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 16th. HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Finally, JMP Securities reiterated a "market outperform" rating and set a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $12.13.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.