AQR Capital Management LLC raised its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 691.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 283,516 shares of the company's stock after acquiring an additional 247,694 shares during the period. AQR Capital Management LLC owned approximately 0.35% of Sutro Biopharma worth $831,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC raised its position 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 raised its position 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. Renaissance Technologies LLC raised its position in Sutro Biopharma by 48.1% during the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company's stock valued at $2,108,000 after purchasing an additional 233,700 shares in the last quarter. Acadian Asset Management LLC raised its position in Sutro Biopharma by 30.8% during the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company's stock valued at $4,613,000 after purchasing an additional 370,705 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Sutro Biopharma by 23.3% during the second quarter. Rhumbline Advisers now owns 116,099 shares of the company's stock valued at $340,000 after purchasing an additional 21,935 shares in the last quarter. Institutional investors own 96.99% of the company's stock.
Sutro Biopharma Price Performance
Shares of Sutro Biopharma stock traded up $0.48 during trading on Friday, hitting $3.79. The company's stock had a trading volume of 895,432 shares, compared to its average volume of 724,070. Sutro Biopharma, Inc. has a 52 week low of $2.01 and a 52 week high of $6.13. The stock has a market cap of $310.00 million, a price-to-earnings ratio of -2.02 and a beta of 1.17. The stock has a 50-day moving average price of $3.94 and a two-hundred day moving average price of $3.93.
Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, topping 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 company had revenue of $25.71 million for the quarter, compared to analysts' expectations of $26.28 million. On average, equities analysts predict that Sutro Biopharma, Inc. will post -2.96 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. HC Wainwright restated a "buy" rating and set a $12.00 price objective on shares of Sutro Biopharma in a research report on Friday. Piper Sandler restated an "overweight" rating and set a $11.00 price objective on shares of Sutro Biopharma in a research report on Friday. Truist Financial lowered their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 16th. Finally, JMP Securities reiterated a "market outperform" rating and set a $17.00 price target on shares of Sutro Biopharma in a report on Monday, September 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $12.13.
Read Our Latest Stock Report on STRO
About Sutro Biopharma
(
Free Report)
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.
Featured Articles
Before you consider Sutro Biopharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sutro Biopharma wasn't on the list.
While Sutro Biopharma currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
