Orbimed Advisors LLC Purchases New Position in Sutro Biopharma, Inc. $STRO

Orbimed Advisors LLC acquired a new position in Sutro Biopharma, Inc. (NASDAQ:STRO) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 801,144 shares of the company’s stock, valued at approximately $19,956,000. Orbimed Advisors LLC owned 4.83% of Sutro Biopharma at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of Sutro Biopharma by 1,052.8% during the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after acquiring an additional 1,206,330 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Sutro Biopharma in the second quarter valued at $492,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Sutro Biopharma in the third quarter valued at $387,000. Affinity Asset Advisors LLC raised its stake in shares of Sutro Biopharma by 42.9% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,069,519 shares of the company’s stock valued at $26,642,000 after purchasing an additional 321,137 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Sutro Biopharma by 244.8% during the 3rd quarter. Two Sigma Investments LP now owns 396,785 shares of the company’s stock worth $345,000 after purchasing an additional 281,717 shares in the last quarter. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $22.88 on Monday. The firm has a market capitalization of $379.12 million, a price-to-earnings ratio of -2.07 and a beta of 1.51. Sutro Biopharma, Inc. has a 52-week low of $7.15 and a 52-week high of $43.85. The stock has a fifty day moving average of $28.27 and a 200 day moving average of $24.91.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to analyst estimates of $8.89 million. Equities analysts forecast that Sutro Biopharma, Inc. will post -9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on STRO shares. Truist Financial started coverage on Sutro Biopharma in a research note on Thursday, June 11th. They issued a “buy” rating and a $50.00 target price for the company. Barclays began coverage on Sutro Biopharma in a research report on Thursday, May 28th. They set an “overweight” rating and a $56.00 price target on the stock. Lifesci Capital raised shares of Sutro Biopharma to a “strong-buy” rating in a report on Friday, May 1st. Citizens Jmp raised their price objective on shares of Sutro Biopharma from $35.00 to $41.00 and gave the company a “market outperform” rating in a research report on Thursday, April 23rd. Finally, HC Wainwright boosted their price objective on shares of Sutro Biopharma from $28.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.44.

Sutro Biopharma Company Profile

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.