Vestal Point Capital LP Purchases 30,000 Shares of Sutro Biopharma, Inc. $STRO

Vestal Point Capital LP boosted its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,600,000 shares of the company’s stock after purchasing an additional 30,000 shares during the period. Vestal Point Capital LP owned about 3.08% of Sutro Biopharma worth $1,692,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new stake in Sutro Biopharma in the first quarter worth $2,885,000. Velan Capital Investment Management LP boosted its stake in shares of Sutro Biopharma by 3,333.3% during the first quarter. Velan Capital Investment Management LP now owns 1,030,000 shares of the company’s stock valued at $670,000 after purchasing an additional 1,000,000 shares during the period. Affinity Asset Advisors LLC bought a new position in shares of Sutro Biopharma in the first quarter worth about $490,000. Nuveen LLC purchased a new position in Sutro Biopharma in the 1st quarter worth about $189,000. Finally, Suvretta Capital Management LLC lifted its holdings in Sutro Biopharma by 3.8% during the 4th quarter. Suvretta Capital Management LLC now owns 7,462,495 shares of the company’s stock valued at $13,731,000 after buying an additional 275,000 shares in the last quarter. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $0.86 on Tuesday. The company’s 50-day simple moving average is $0.81 and its 200-day simple moving average is $0.91. Sutro Biopharma, Inc. has a fifty-two week low of $0.52 and a fifty-two week high of $4.80. The stock has a market capitalization of $72.66 million, a P/E ratio of -0.34 and a beta of 1.57.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.25. The business had revenue of $63.74 million for the quarter, compared to analyst estimates of $14.55 million. Sutro Biopharma had a negative net margin of 201.32% and a negative return on equity of 852.70%. On average, research analysts forecast that Sutro Biopharma, Inc. will post -2.92 EPS for the current year.

Analysts Set New Price Targets

STRO has been the topic of a number of research reports. Bank of America reduced their target price on shares of Sutro Biopharma from $1.00 to $0.80 and set an “underperform” rating on the stock in a research report on Monday, May 19th. Piper Sandler raised Sutro Biopharma from a “neutral” rating to an “overweight” rating and set a $2.00 target price for the company in a research report on Monday, June 16th. Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Finally, Wells Fargo & Company dropped their price target on Sutro Biopharma from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.47.

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.