Walleye Capital LLC Sells 11,802 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Walleye Capital LLC cut its position in Sutro Biopharma, Inc. (NASDAQ:STROGet Rating) by 15.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 63,610 shares of the company’s stock after selling 11,802 shares during the period. Walleye Capital LLC’s holdings in Sutro Biopharma were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in STRO. BNP Paribas Arbitrage SA raised its stake in shares of Sutro Biopharma by 55.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 26,475 shares of the company’s stock valued at $218,000 after purchasing an additional 9,464 shares during the period. Quantbot Technologies LP raised its stake in shares of Sutro Biopharma by 117.1% during the 1st quarter. Quantbot Technologies LP now owns 8,900 shares of the company’s stock valued at $73,000 after purchasing an additional 4,800 shares during the period. Endurant Capital Management LP raised its stake in shares of Sutro Biopharma by 165.2% during the 1st quarter. Endurant Capital Management LP now owns 296,508 shares of the company’s stock valued at $2,437,000 after purchasing an additional 184,705 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Sutro Biopharma by 11.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 402,381 shares of the company’s stock valued at $3,308,000 after purchasing an additional 39,828 shares during the period. Finally, PDT Partners LLC bought a new stake in shares of Sutro Biopharma during the 1st quarter valued at $665,000. 88.75% of the stock is currently owned by institutional investors.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO opened at $5.37 on Thursday. The firm has a market capitalization of $280.10 million, a P/E ratio of -1.86 and a beta of 0.93. The company has a quick ratio of 7.44, a current ratio of 7.44 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $6.01 and its two-hundred day simple moving average is $6.13. Sutro Biopharma, Inc. has a twelve month low of $3.33 and a twelve month high of $23.70.

Sutro Biopharma (NASDAQ:STROGet Rating) last announced its earnings results on Monday, August 8th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.19. The business had revenue of $28.10 million for the quarter, compared to analyst estimates of $13.64 million. Sutro Biopharma had a negative return on equity of 55.57% and a negative net margin of 252.33%. As a group, equities analysts anticipate that Sutro Biopharma, Inc. will post -2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JMP Securities reiterated a “buy” rating and set a $20.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, July 6th. Piper Sandler boosted their price objective on Sutro Biopharma to $16.00 in a research note on Monday, July 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $15.00 price objective on shares of Sutro Biopharma in a research note on Thursday, August 18th. Finally, Truist Financial decreased their target price on Sutro Biopharma from $37.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, August 23rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Sutro Biopharma has an average rating of “Buy” and a consensus target price of $21.71.

Sutro Biopharma Profile

(Get Rating)

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 and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.

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Institutional Ownership by Quarter for Sutro Biopharma (NASDAQ:STRO)

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