Fisher Asset Management LLC Trims Stock Holdings in Sutro Biopharma, Inc. $STRO

Fisher Asset Management LLC decreased its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 90.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 35,305 shares of the company’s stock after selling 317,644 shares during the period. Fisher Asset Management LLC’s holdings in Sutro Biopharma were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Velan Capital Investment Management LP raised its stake in Sutro Biopharma by 2.0% in the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company’s stock worth $2,709,000 after acquiring an additional 60,000 shares during the last quarter. UBS Group AG raised its stake in Sutro Biopharma by 14.0% in the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company’s stock worth $1,602,000 after acquiring an additional 226,955 shares during the last quarter. AQR Capital Management LLC raised its stake in Sutro Biopharma by 1,052.8% in the 1st quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after acquiring an additional 1,206,330 shares during the last quarter. Jane Street Group LLC purchased a new position in Sutro Biopharma in the 2nd quarter worth $492,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Sutro Biopharma in the 3rd quarter worth $387,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STRO. Leerink Partners set a $43.00 target price on Sutro Biopharma and gave the stock an “outperform” rating in a research note on Friday, May 15th. Wall Street Zen lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a research note on Friday, April 17th. Citizens Jmp lifted their price objective on Sutro Biopharma from $35.00 to $41.00 and gave the company a “market outperform” rating in a research note on Thursday, April 23rd. Finally, Barclays assumed coverage on Sutro Biopharma in a research note on Thursday. They set an “overweight” rating and a $56.00 price objective for the company. Four investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $49.11.

Sutro Biopharma Stock Performance

NASDAQ STRO opened at $29.23 on Monday. The stock has a 50-day simple moving average of $30.32 and a two-hundred day simple moving average of $19.70. The firm has a market capitalization of $484.34 million, a P/E ratio of -2.65 and a beta of 1.54. Sutro Biopharma, Inc. has a fifty-two week low of $6.74 and a fifty-two week high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. As a group, analysts forecast that Sutro Biopharma, Inc. will post -8.81 earnings per share for the current year.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.