Eversept Partners LP Sells 120,410 Shares of Sutro Biopharma, Inc. $STRO

Eversept Partners LP reduced its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 62.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,161 shares of the company’s stock after selling 120,410 shares during the period. Eversept Partners LP’s holdings in Sutro Biopharma were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its position in 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 valued at $859,000 after acquiring an additional 1,206,330 shares during the last quarter. Orbimed Advisors LLC purchased a new position in Sutro Biopharma in the first quarter worth about $19,956,000. Jane Street Group LLC bought a new stake in shares of Sutro Biopharma during the 2nd quarter valued at about $492,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Sutro Biopharma during the 3rd quarter valued at about $387,000. Finally, Affinity Asset Advisors LLC increased its position 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 last quarter. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Trading Up 4.9%

NASDAQ STRO opened at $24.01 on Tuesday. Sutro Biopharma, Inc. has a 12 month low of $7.15 and a 12 month high of $43.85. The stock has a market cap of $397.85 million, a price-to-earnings ratio of -2.17 and a beta of 1.51. The company’s 50 day moving average is $28.06 and its two-hundred day moving average is $24.99.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly 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 for the quarter, compared to analyst estimates of $8.89 million. Sell-side analysts forecast that Sutro Biopharma, Inc. will post -9 EPS for the current year.

Analyst Ratings Changes

STRO has been the topic of a number of research reports. Citigroup reissued an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Leerink Partners set a $43.00 price target on shares of Sutro Biopharma and gave the stock an “outperform” rating in a research report on Friday, May 15th. Barclays started coverage on shares of Sutro Biopharma in a research note on Thursday, May 28th. They set an “overweight” rating and a $56.00 price target on the stock. Wall Street Zen lowered Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday, June 14th. Finally, Truist Financial began coverage on Sutro Biopharma in a report on Thursday, June 11th. They issued a “buy” rating and a $50.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sutro Biopharma presently 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.