Tower Research Capital LLC TRC Has $40,000 Stake in Sutro Biopharma, Inc. (NASDAQ:STRO)

Tower Research Capital LLC TRC trimmed its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 37.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,396 shares of the company’s stock after selling 5,732 shares during the period. Tower Research Capital LLC TRC’s holdings in Sutro Biopharma were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. increased its holdings in Sutro Biopharma by 1,275.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock worth $10,775,000 after buying an additional 2,879,412 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Sutro Biopharma by 18.2% in the third quarter. Acadian Asset Management LLC now owns 773,867 shares of the company’s stock valued at $2,684,000 after purchasing an additional 119,399 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Sutro Biopharma by 42.5% in the fourth quarter. Vontobel Holding Ltd. now owns 641,684 shares of the company’s stock valued at $2,753,000 after purchasing an additional 191,345 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Sutro Biopharma by 8.3% in the third quarter. Panagora Asset Management Inc. now owns 369,148 shares of the company’s stock valued at $1,281,000 after purchasing an additional 28,160 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Sutro Biopharma by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock valued at $154,000 after purchasing an additional 9,092 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on STRO. HC Wainwright decreased their price objective on shares of Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $11.00 price objective (down previously from $12.00) on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Truist Financial cut their price objective on shares of Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sutro Biopharma presently has a consensus rating of “Buy” and an average price target of $12.57.

Sutro Biopharma Stock Up 5.3 %

Shares of STRO stock traded up $0.20 on Thursday, reaching $3.94. The company had a trading volume of 775,279 shares, compared to its average volume of 969,856. The stock has a market capitalization of $246.01 million, a PE ratio of -2.25 and a beta of 1.09. Sutro Biopharma, Inc. has a one year low of $2.01 and a one year high of $6.13. The business’s 50-day moving average is $4.31 and its 200 day moving average is $3.87.

Sutro Biopharma (NASDAQ:STRO) last posted its earnings results on Monday, March 25th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $1.24. The firm had revenue of $113.72 million during the quarter, compared to analysts’ expectations of $12.16 million. Sutro Biopharma had a negative net margin of 69.47% and a negative return on equity of 71.42%. On average, sell-side analysts forecast that Sutro Biopharma, Inc. will post -3.15 earnings per share for the current fiscal year.

About Sutro Biopharma

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.