AQR Capital Management LLC Boosts Stock Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

AQR Capital Management LLC lifted its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 691.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 283,516 shares of the company’s stock after acquiring an additional 247,694 shares during the period. AQR Capital Management LLC owned 0.35% of Sutro Biopharma worth $831,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its position in Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Sutro Biopharma in the first quarter valued at $92,000. Price T Rowe Associates Inc. MD increased its holdings in Sutro Biopharma by 24.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after purchasing an additional 3,578 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Sutro Biopharma by 9.7% in the second quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock valued at $173,000 after purchasing an additional 5,404 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sutro Biopharma during the first quarter valued at $249,000. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $3.79 on Friday. The business has a 50 day simple moving average of $3.94 and a 200 day simple moving average of $3.93. Sutro Biopharma, Inc. has a one year low of $2.01 and a one year high of $6.13. The stock has a market capitalization of $310.63 million, a P/E ratio of -2.07 and a beta of 1.17.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Tuesday, August 13th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $26.28 million. Equities analysts expect that Sutro Biopharma, Inc. will post -2.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STRO has been the topic of several analyst reports. JMP Securities restated a “market outperform” rating and set a $17.00 target price on shares of Sutro Biopharma in a report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research report on Friday. Finally, Truist Financial lowered their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Sutro Biopharma currently has a consensus rating of “Buy” and a consensus price target of $12.13.

About Sutro Biopharma

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.