Exchange Traded Concepts LLC Decreases Stock Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

Exchange Traded Concepts LLC decreased its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO) by 16.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,260 shares of the company’s stock after selling 8,935 shares during the quarter. Exchange Traded Concepts LLC owned 0.06% of Sutro Biopharma worth $157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC increased its position in shares of Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Sutro Biopharma during the 1st quarter valued at about $92,000. The Manufacturers Life Insurance Company increased its position in shares of Sutro Biopharma by 27.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after purchasing an additional 7,082 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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. Finally, SG Americas Securities LLC increased its position in shares of Sutro Biopharma by 134.6% during the 3rd quarter. SG Americas Securities LLC now owns 34,662 shares of the company’s stock valued at $120,000 after purchasing an additional 19,890 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Price Performance

STRO stock opened at $3.64 on Tuesday. Sutro Biopharma, Inc. has a 1-year low of $2.01 and a 1-year high of $6.13. The company has a market capitalization of $298.33 million, a price-to-earnings ratio of -1.99 and a beta of 1.17. The business has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $3.86.

Sutro Biopharma (NASDAQ:STRO) last posted 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 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 the consensus estimate of $26.28 million. Sell-side analysts anticipate that Sutro Biopharma, Inc. will post -2.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on STRO shares. Truist Financial reduced 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. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. Piper Sandler reiterated an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. Finally, JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $12.13.

Sutro Biopharma Company 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.