Sutro Biopharma, Inc. (NASDAQ:STRO) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. decreased its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 17.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,519,341 shares of the company's stock after selling 329,410 shares during the period. Baillie Gifford & Co. owned about 1.85% of Sutro Biopharma worth $5,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Sutro Biopharma during the first quarter worth approximately $249,000. BNP Paribas Financial Markets lifted its stake in Sutro Biopharma by 500.1% in the first quarter. BNP Paribas Financial Markets now owns 98,227 shares of the company's stock valued at $555,000 after buying an additional 81,858 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Sutro Biopharma by 192.9% during the 1st quarter. Russell Investments Group Ltd. now owns 111,955 shares of the company's stock worth $633,000 after purchasing an additional 73,731 shares during the period. Vanguard Group Inc. increased its position in Sutro Biopharma by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company's stock valued at $17,079,000 after acquiring an additional 132,790 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Sutro Biopharma by 30.5% during the first quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company's stock worth $6,803,000 after purchasing an additional 281,224 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company's stock.

Sutro Biopharma Price Performance

STRO stock traded down $0.46 during trading on Thursday, reaching $3.50. 366,373 shares of the stock traded hands, compared to its average volume of 801,526. The business's 50 day moving average price is $3.78 and its 200-day moving average price is $3.84. The firm has a market capitalization of $286.87 million, a PE ratio of -2.01 and a beta of 1.17. Sutro Biopharma, Inc. has a 52-week low of $2.13 and a 52-week high of $6.13.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STRO. JMP Securities reaffirmed a "market outperform" rating and set a $17.00 price objective on shares of Sutro Biopharma in a report on Monday, September 16th. HC Wainwright reiterated a "buy" rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. Piper Sandler restated an "overweight" rating and set a $11.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. Finally, Truist Financial lowered their target price on Sutro Biopharma from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 16th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $12.14.

Sutro Biopharma 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.