The Manufacturers Life Insurance Company Buys 7,082 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

The Manufacturers Life Insurance Company grew its stake in Sutro Biopharma, Inc. (NASDAQ:STRO) by 27.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,943 shares of the company’s stock after acquiring an additional 7,082 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sutro Biopharma were worth $97,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position 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 during the last quarter. ProShare Advisors LLC lifted its stake in shares of Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after buying an additional 5,373 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Sutro Biopharma by 9.7% during the second quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock valued at $173,000 after acquiring an additional 5,404 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Sutro Biopharma during the first quarter valued at approximately $92,000. Finally, Rhumbline Advisers raised its holdings in Sutro Biopharma by 23.3% in 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 last quarter. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Stock Up 0.5 %

NASDAQ STRO opened at $3.73 on Monday. The company has a 50-day moving average price of $4.00 and a 200-day moving average price of $3.88. Sutro Biopharma, Inc. has a 52 week low of $2.01 and a 52 week high of $6.13. The firm has a market capitalization of $305.09 million, a P/E ratio of -1.98 and a beta of 1.17.

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

Analysts Set New Price Targets

A number of research firms have commented on STRO. Truist Financial reduced their target price on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. Piper Sandler restated an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a research note on Friday, October 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a report on Monday, September 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $12.13.

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.