SG Americas Securities LLC Takes $551,000 Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

SG Americas Securities LLC acquired a new stake in Sutro Biopharma, Inc. (NASDAQ:STRO) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 29,162 shares of the company’s stock, valued at approximately $551,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Sutro Biopharma by 16.9% in the second quarter. BlackRock Inc. now owns 3,626,799 shares of the company’s stock valued at $67,423,000 after buying an additional 524,826 shares during the period. Franklin Resources Inc. increased its stake in shares of Sutro Biopharma by 7.6% in the second quarter. Franklin Resources Inc. now owns 2,848,479 shares of the company’s stock valued at $52,953,000 after buying an additional 201,675 shares during the period. First Light Asset Management LLC increased its stake in shares of Sutro Biopharma by 0.7% in the second quarter. First Light Asset Management LLC now owns 2,072,875 shares of the company’s stock valued at $38,535,000 after buying an additional 14,428 shares during the period. Vanguard Group Inc. increased its position in Sutro Biopharma by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,063,195 shares of the company’s stock valued at $38,355,000 after purchasing an additional 23,206 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Sutro Biopharma by 18.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,136,600 shares of the company’s stock valued at $21,129,000 after purchasing an additional 178,400 shares during the period. 86.40% of the stock is owned by institutional investors.

A number of analysts have weighed in on the stock. Wells Fargo & Company reissued a “buy” rating and set a $30.00 target price on shares of Sutro Biopharma in a research report on Friday, October 1st. Wedbush decreased their target price on shares of Sutro Biopharma from $37.00 to $30.00 in a research report on Thursday, January 6th. Zacks Investment Research downgraded shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Berenberg Bank assumed coverage on shares of Sutro Biopharma in a research report on Wednesday, November 17th. They set a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Sutro Biopharma has an average rating of “Buy” and an average price target of $30.00.

Sutro Biopharma stock opened at $10.70 on Friday. The stock has a market capitalization of $495.09 million, a price-to-earnings ratio of -3.64 and a beta of 0.80. Sutro Biopharma, Inc. has a 52-week low of $9.62 and a 52-week high of $28.30. The stock’s 50 day moving average price is $15.65 and its two-hundred day moving average price is $17.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 7.07 and a current ratio of 7.07.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings results on Wednesday, November 10th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.02). The business had revenue of $8.52 million for the quarter, compared to the consensus estimate of $8.85 million. Sutro Biopharma had a negative return on equity of 37.80% and a negative net margin of 213.36%. On average, equities research analysts forecast that Sutro Biopharma, Inc. will post -1.95 EPS for the current year.

About Sutro Biopharma

Sutro Biopharma Inc engages in the drug discovery, development and manufacture of pharmaceutical products. It focuses on the next generation cancer and autoimmune therapeutics. The company was founded by James R. Swartz and Sutanto Widjaja on April 21, 2003 and is headquartered in South San Francisco, CA.

Further Reading: How is diluted EPS different from basic EPS?

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Institutional Ownership by Quarter for Sutro Biopharma (NASDAQ:STRO)

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