Sutro Biopharma, Inc. (NASDAQ:STRO) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,858 shares of the company’s stock after acquiring an additional 5,404 shares during the period. Hsbc Holdings PLC owned 0.07% of Sutro Biopharma worth $173,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of Sutro Biopharma by 48.1% in the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock valued at $2,108,000 after purchasing an additional 233,700 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Sutro Biopharma by 30.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after acquiring an additional 370,705 shares during the period. Rhumbline Advisers raised its holdings in shares of Sutro Biopharma by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 116,099 shares of the company’s stock worth $340,000 after acquiring an additional 21,935 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Sutro Biopharma by 15.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock valued at $2,659,000 after acquiring an additional 122,299 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Sutro Biopharma by 47.7% in the second quarter. Bank of New York Mellon Corp now owns 272,719 shares of the company’s stock valued at $799,000 after purchasing an additional 88,034 shares during the period. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Stock Up 2.3 %

Sutro Biopharma stock opened at $3.61 on Friday. Sutro Biopharma, Inc. has a 52-week low of $2.01 and a 52-week high of $6.13. The firm has a market cap of $295.28 million, a PE ratio of -1.92 and a beta of 1.17. The company’s 50 day moving average is $3.99 and its two-hundred day moving average is $3.94.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.20. The business had revenue of $25.71 million for the quarter, compared to analysts’ expectations of $26.28 million. Sutro Biopharma had a negative return on equity of 102.06% and a negative net margin of 73.48%. On average, equities research analysts anticipate that Sutro Biopharma, Inc. will post -2.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

STRO has been the subject of several analyst reports. Truist Financial dropped 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 note on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Sutro Biopharma in a research note on Monday, September 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock 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.