Tower Research Capital LLC TRC Sells 5,732 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Tower Research Capital LLC TRC lessened its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 37.9% in the fourth quarter, HoldingsChannel.com reports. 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 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of STRO. Nisa Investment Advisors LLC lifted its position in Sutro Biopharma by 14,125.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after buying an additional 8,758 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Sutro Biopharma in the 4th quarter worth approximately $60,000. SG Americas Securities LLC bought a new stake in Sutro Biopharma in the 3rd quarter worth approximately $113,000. Exchange Traded Concepts LLC lifted its position in Sutro Biopharma by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock worth $154,000 after buying an additional 9,092 shares during the last quarter. Finally, Barclays PLC lifted its position in Sutro Biopharma by 40.7% in the 3rd quarter. Barclays PLC now owns 62,579 shares of the company’s stock worth $217,000 after buying an additional 18,093 shares during the last quarter. Institutional investors own 96.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STRO. Piper Sandler restated an “overweight” rating and issued a $11.00 target price (down previously from $12.00) on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. HC Wainwright lowered their price objective on Sutro Biopharma from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Wedbush reiterated an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a research report on Tuesday. Finally, Truist Financial lowered their price objective on Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $12.57.

Sutro Biopharma Stock Up 5.3 %

Shares of STRO traded up $0.20 during mid-day trading on Thursday, hitting $3.94. 775,279 shares of the company’s stock traded hands, compared to its average volume of 969,856. Sutro Biopharma, Inc. has a 1 year low of $2.01 and a 1 year high of $6.13. The firm has a market capitalization of $246.01 million, a P/E ratio of -2.25 and a beta of 1.09. The business’s 50-day moving average price is $4.31 and its 200-day moving average price is $3.87.

Sutro Biopharma (NASDAQ:STRO) last posted its earnings results on Monday, March 25th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $1.24. Sutro Biopharma had a negative return on equity of 71.42% and a negative net margin of 69.47%. The firm had revenue of $113.72 million for the quarter, compared to analysts’ expectations of $12.16 million. Sell-side analysts anticipate 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.