abrdn plc Makes New $298,000 Investment in Sutro Biopharma, Inc. (NASDAQ:STRO)

abrdn plc bought a new stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 69,389 shares of the company’s stock, valued at approximately $298,000. abrdn plc owned about 0.11% of Sutro Biopharma at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in Sutro Biopharma by 14,125.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock valued at $38,000 after acquiring an additional 8,758 shares during the last quarter. SG Americas Securities LLC bought a new stake in Sutro Biopharma in the third quarter valued at about $113,000. Exchange Traded Concepts LLC grew its position in shares of 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 acquiring an additional 9,092 shares in the last quarter. Barclays PLC increased its holdings in shares of Sutro Biopharma by 40.7% in the 3rd quarter. Barclays PLC now owns 62,579 shares of the company’s stock valued at $217,000 after acquiring an additional 18,093 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Sutro Biopharma by 20.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 68,324 shares of the company’s stock valued at $237,000 after acquiring an additional 11,800 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Stock Down 3.6 %

Shares of NASDAQ STRO opened at $3.40 on Wednesday. The firm’s 50-day simple moving average is $4.36 and its 200 day simple moving average is $3.87. The stock has a market cap of $211.98 million, a P/E ratio of -1.91 and a beta of 0.95. Sutro Biopharma, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last posted its quarterly earnings data on Monday, March 25th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $1.24. The business had revenue of $113.72 million for the quarter, compared to analyst estimates of $12.16 million. Sutro Biopharma had a negative net margin of 69.47% and a negative return on equity of 71.42%. On average, sell-side analysts anticipate that Sutro Biopharma, Inc. will post -3.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Sutro Biopharma 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.