Sutro Biopharma (NASDAQ:STRO) Shares Gap Up

Sutro Biopharma's stock (NASDAQ:STRO) experienced a price gap up, opening at $7.75 from a previous close of $7.2980. Despite this, analysts have mixed ratings: Wall Street Zen downgraded it to 'sell', while Wedbush increased its price objective to $100. The company reported a Q3 loss of $0.67 per share, missing estimates. Institutional investors hold 96.99% of the stock. Sutro Biopharma focuses on oncology with products in various clinical trial phases.

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $7.2980, but opened at $7.75. Sutro Biopharma shares last traded at $7.3650, with a volume of 32,700 shares.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen lowered Sutro Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Sutro Biopharma in a research note on Monday. Wells Fargo & Company dropped their target price on shares of Sutro Biopharma from $40.00 to $30.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Finally, Wedbush restated a "neutral" rating and issued a $100.00 price objective (up from $20.00) on shares of Sutro Biopharma in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $58.00.

Read Our Latest Report on STRO

Sutro Biopharma Price Performance

The stock has a market capitalization of $658.47 million, a P/E ratio of -2.96 and a beta of 1.61. The firm has a fifty day moving average of $0.92 and a two-hundred day moving average of $0.87.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.67) earnings per share for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.25). Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 206.77%.The company had revenue of $9.69 million for the quarter, compared to analysts' expectations of $10.14 million. As a group, sell-side analysts forecast that Sutro Biopharma, Inc. will post -2.92 EPS for the current fiscal year.

Insider Activity

In other news, Director Connie Matsui acquired 5,000 shares of Sutro Biopharma stock in a transaction that occurred on Wednesday, October 15th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $40,000.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at $40,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders have purchased 11,175 shares of company stock valued at $89,598. 5.90% of the stock is owned by insiders.

Institutional Trading of Sutro Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. purchased a new stake in Sutro Biopharma in the first quarter valued at about $2,885,000. Acadian Asset Management LLC raised its position in shares of Sutro Biopharma by 78.9% in the 1st quarter. Acadian Asset Management LLC now owns 3,134,586 shares of the company's stock valued at $2,037,000 after purchasing an additional 1,382,661 shares during the last quarter. Velan Capital Investment Management LP grew its position in Sutro Biopharma by 2.0% during the 3rd quarter. Velan Capital Investment Management LP now owns 3,120,000 shares of the company's stock worth $2,709,000 after purchasing an additional 60,000 shares during the last quarter. Vestal Point Capital LP grew its position in Sutro Biopharma by 1.2% during the 1st quarter. Vestal Point Capital LP now owns 2,600,000 shares of the company's stock worth $1,692,000 after purchasing an additional 30,000 shares during the last quarter. Finally, UBS Group AG increased its stake in Sutro Biopharma by 14.0% during the 3rd quarter. UBS Group AG now owns 1,845,839 shares of the company's stock valued at $1,602,000 after purchasing an additional 226,955 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company's stock.

About Sutro Biopharma

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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.

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