Bank of New York Mellon Corp Increases Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

Bank of New York Mellon Corp increased its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 47.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 272,719 shares of the company’s stock after acquiring an additional 88,034 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.33% of Sutro Biopharma worth $799,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in Sutro Biopharma during the fourth quarter worth approximately $60,000. Lazard Asset Management LLC purchased a new position in shares of Sutro Biopharma in the 1st quarter worth $92,000. Price T Rowe Associates Inc. MD raised its position in shares of Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after buying an additional 3,578 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Sutro Biopharma in the first quarter valued at $249,000. Finally, Aristides Capital LLC purchased a new stake in Sutro Biopharma during the fourth quarter valued at about $217,000. 96.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sutro Biopharma Price Performance

Shares of Sutro Biopharma stock opened at $3.77 on Monday. The firm has a market cap of $308.99 million, a price-to-earnings ratio of -2.01 and a beta of 1.18. The stock has a 50-day simple moving average of $4.10 and a 200-day simple moving average of $3.99. Sutro Biopharma, Inc. has a 52-week low of $2.01 and a 52-week high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $25.71 million during the quarter, compared to analysts’ expectations of $26.28 million. As a group, equities research analysts predict that Sutro Biopharma, Inc. will post -2.96 earnings per share for the current year.

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.