Adage Capital Partners GP L.L.C. Cuts Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,000,000 shares of the company’s stock after selling 250,132 shares during the period. Adage Capital Partners GP L.L.C. owned 2.43% of Sutro Biopharma worth $3,680,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC increased its position in Sutro Biopharma by 16.6% during the 4th quarter. SG Americas Securities LLC now owns 40,432 shares of the company’s stock valued at $74,000 after buying an additional 5,770 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Sutro Biopharma by 6.1% during the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company’s stock valued at $233,000 after acquiring an additional 7,320 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Sutro Biopharma by 66.7% in the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company’s stock worth $46,000 after purchasing an additional 10,000 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Sutro Biopharma by 24.8% in the 4th quarter. Wells Fargo & Company MN now owns 52,738 shares of the company’s stock worth $97,000 after purchasing an additional 10,466 shares in the last quarter. Finally, Invesco Ltd. grew its position in Sutro Biopharma by 54.2% during the 4th quarter. Invesco Ltd. now owns 38,749 shares of the company’s stock valued at $71,000 after purchasing an additional 13,620 shares during the last quarter. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Sutro Biopharma Trading Down 2.5 %

Sutro Biopharma stock opened at $0.87 on Wednesday. The firm has a 50 day moving average of $0.95 and a 200 day moving average of $1.99. The firm has a market capitalization of $73.79 million, a price-to-earnings ratio of -0.54 and a beta of 1.70. Sutro Biopharma, Inc. has a 12-month low of $0.52 and a 12-month high of $5.17.

Sutro Biopharma (NASDAQ:STRO) last released its earnings results on Thursday, March 13th. The company reported ($2.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($2.10). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The business had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $10.44 million. During the same quarter in the prior year, the business posted ($1.78) EPS. On average, analysts predict that Sutro Biopharma, Inc. will post -2.92 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on STRO. Citizens Jmp cut shares of Sutro Biopharma from an “outperform” rating to a “market perform” rating in a report on Friday, March 14th. Wedbush lowered shares of Sutro Biopharma from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $8.00 to $2.00 in a report on Friday, March 14th. Piper Sandler set a $2.00 target price on Sutro Biopharma in a report on Friday, March 14th. Bank of America downgraded Sutro Biopharma from a “buy” rating to an “underperform” rating and lowered their price target for the company from $11.00 to $1.00 in a report on Friday, March 14th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $2.00 price objective on shares of Sutro Biopharma in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.63.

Sutro Biopharma Company Profile

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.