Sutro Biopharma, Inc. (NASDAQ:STRO) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 91.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,463 shares of the company's stock after selling 177,208 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Sutro Biopharma were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in Sutro Biopharma in the 1st quarter valued at approximately $714,000. Acadian Asset Management LLC boosted its stake in shares of Sutro Biopharma by 30.5% during the 1st quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company's stock worth $6,803,000 after acquiring an additional 281,224 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Sutro Biopharma by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company's stock worth $17,079,000 after acquiring an additional 132,790 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Sutro Biopharma by 691.5% during the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company's stock worth $831,000 after acquiring an additional 247,694 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Sutro Biopharma by 48.1% during the 2nd quarter. Renaissance Technologies LLC now owns 719,497 shares of the company's stock worth $2,108,000 after acquiring an additional 233,700 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company's stock.

Sutro Biopharma Stock Down 1.6 %

Shares of Sutro Biopharma stock traded down $0.06 during trading on Thursday, hitting $3.71. 313,327 shares of the company were exchanged, compared to its average volume of 830,233. The firm has a 50 day moving average price of $3.99 and a 200 day moving average price of $3.90. The stock has a market capitalization of $303.46 million, a price-to-earnings ratio of -1.97 and a beta of 1.17. Sutro Biopharma, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $6.13.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial decreased their price target on Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 16th. Piper Sandler reissued an "overweight" rating and set a $11.00 price target on shares of Sutro Biopharma in a research note on Friday, October 11th. HC Wainwright reissued a "buy" rating and set a $12.00 price target on shares of Sutro Biopharma in a research note on Friday, October 11th. Finally, JMP Securities restated 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 an average 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.