Spruce Street Capital LP Buys New Shares in Sutro Biopharma, Inc. $STRO

Spruce Street Capital LP bought a new stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 75,594 shares of the company’s stock, valued at approximately $875,000. Sutro Biopharma accounts for about 0.3% of Spruce Street Capital LP’s holdings, making the stock its 27th biggest position.

Other large investors have also recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in Sutro Biopharma during the 4th quarter valued at $265,000. Bridgeway Capital Management LLC raised its stake in Sutro Biopharma by 232.6% during the 3rd quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after purchasing an additional 30,000 shares during the last quarter. Invesco Ltd. raised its stake in shares of Sutro Biopharma by 137.8% in the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after buying an additional 53,390 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Sutro Biopharma by 169.9% during the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after acquiring an additional 66,372 shares during the period. Finally, Qube Research & Technologies Ltd bought a new position in shares of Sutro Biopharma during the 2nd quarter worth about $82,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on STRO shares. Wells Fargo & Company raised shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $27.00 in a research note on Tuesday, March 24th. Wall Street Zen cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft lifted their price objective on Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Truist Financial began coverage on Sutro Biopharma in a report on Thursday, June 11th. They set a “buy” rating and a $50.00 price objective on the stock. Finally, Lifesci Capital raised Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sutro Biopharma currently has a consensus rating of “Moderate Buy” and an average target price of $52.44.

Sutro Biopharma Stock Up 4.9%

Shares of NASDAQ:STRO opened at $30.20 on Tuesday. Sutro Biopharma, Inc. has a 12 month low of $6.74 and a 12 month high of $43.85. The company’s 50-day moving average price is $31.13 and its two-hundred day moving average price is $21.12. The firm has a market cap of $500.41 million, a P/E ratio of -2.74 and a beta of 1.54.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million for the quarter, compared to analysts’ expectations of $8.89 million. As a group, equities analysts predict that Sutro Biopharma, Inc. will post -9.29 earnings per share for the current fiscal year.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.