Connor Clark & Lunn Investment Management Ltd. Sells 110,734 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Connor Clark & Lunn Investment Management Ltd. decreased its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 326,317 shares of the company’s stock after selling 110,734 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.40% of Sutro Biopharma worth $600,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in STRO. China Universal Asset Management Co. Ltd. acquired a new position in Sutro Biopharma in the fourth quarter valued at about $32,000. Vontobel Holding Ltd. raised its position in shares of Sutro Biopharma by 66.7% during the fourth quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock worth $46,000 after purchasing an additional 10,000 shares during the period. SG Americas Securities LLC raised its position in shares of Sutro Biopharma by 16.6% during the fourth quarter. SG Americas Securities LLC now owns 40,432 shares of the company’s stock worth $74,000 after purchasing an additional 5,770 shares during the period. Virtu Financial LLC acquired a new stake in shares of Sutro Biopharma during the third quarter worth about $77,000. Finally, Intech Investment Management LLC acquired a new stake in Sutro Biopharma in the 3rd quarter valued at approximately $91,000. Institutional investors own 96.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on STRO shares. HC Wainwright reissued a “neutral” rating and issued a $2.00 target price (down previously from $12.00) on shares of Sutro Biopharma in a research report on Monday, March 17th. Wedbush downgraded Sutro Biopharma from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $8.00 to $2.00 in a research note on Friday, March 14th. Piper Sandler set a $2.00 target price on Sutro Biopharma in a research note on Friday, March 14th. Bank of America cut Sutro Biopharma from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $11.00 to $1.00 in a report on Friday, March 14th. Finally, Wells Fargo & Company dropped their price target on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $6.63.

Sutro Biopharma Price Performance

Shares of Sutro Biopharma stock opened at $0.77 on Friday. The stock’s 50-day moving average is $1.64 and its 200 day moving average is $2.61. Sutro Biopharma, Inc. has a one year low of $0.76 and a one year high of $6.13. The firm has a market cap of $63.24 million, a price-to-earnings ratio of -0.48 and a beta of 1.22.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of ($0.86) by ($2.10). The company had revenue of $14.00 million during the quarter, compared to analysts’ expectations of $10.44 million. Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. During the same period last year, the company earned ($1.78) earnings per share. On average, sell-side analysts expect that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

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.