Bank of New York Mellon Corp lifted its stake in Sutro Biopharma Inc (NASDAQ:STRO) by 104.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,472 shares of the company’s stock after acquiring an additional 15,591 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.13% of Sutro Biopharma worth $347,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of STRO. Acadian Asset Management LLC increased its position in Sutro Biopharma by 1,365.7% during the second quarter. Acadian Asset Management LLC now owns 9,058 shares of the company’s stock worth $103,000 after buying an additional 8,440 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Sutro Biopharma by 240.7% during the second quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock valued at $130,000 after acquiring an additional 8,113 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Sutro Biopharma by 72.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 22,592 shares of the company’s stock valued at $258,000 after acquiring an additional 9,482 shares during the period. Creative Planning bought a new stake in Sutro Biopharma during the second quarter valued at about $359,000. Finally, Jennison Associates LLC boosted its holdings in Sutro Biopharma by 15.3% during the second quarter. Jennison Associates LLC now owns 158,874 shares of the company’s stock valued at $1,808,000 after acquiring an additional 21,086 shares during the period. 51.18% of the stock is currently owned by institutional investors and hedge funds.
STRO traded up $0.55 during midday trading on Thursday, reaching $10.93. 44,500 shares of the company’s stock were exchanged, compared to its average volume of 39,419. The firm has a market capitalization of $239.21 million, a price-to-earnings ratio of -1.77 and a beta of 1.05. The business has a 50-day simple moving average of $9.80 and a two-hundred day simple moving average of $10.33. Sutro Biopharma Inc has a one year low of $7.69 and a one year high of $14.75.
Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.55) by ($0.05). The firm had revenue of $10.53 million for the quarter, compared to the consensus estimate of $8.38 million. Analysts predict that Sutro Biopharma Inc will post -2.53 EPS for the current fiscal year.
STRO has been the subject of a number of recent analyst reports. Wedbush restated an “outperform” rating on shares of Sutro Biopharma in a report on Wednesday, October 30th. ValuEngine upgraded shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and set a $16.00 price target on shares of Sutro Biopharma in a report on Thursday, September 5th. BTIG Research initiated coverage on shares of Sutro Biopharma in a report on Monday, October 7th. They set a “buy” rating and a $19.00 price target for the company. Finally, Deutsche Bank initiated coverage on shares of Sutro Biopharma in a report on Thursday, July 18th. They set a “buy” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Sutro Biopharma currently has an average rating of “Buy” and a consensus price target of $19.40.
Sutro Biopharma Profile
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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