Jacobs Levy Equity Management Inc. Increases Stake in Sutro Biopharma, Inc. (NASDAQ:STRO)

Jacobs Levy Equity Management Inc. grew its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO) by 214.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,069,522 shares of the company’s stock after acquiring an additional 729,239 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.71% of Sutro Biopharma worth $6,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of STRO. Opaleye Management Inc. acquired a new position in Sutro Biopharma during the 4th quarter worth $1,293,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Sutro Biopharma during the first quarter worth about $714,000. Acadian Asset Management LLC grew its position in shares of Sutro Biopharma by 30.5% during the first quarter. Acadian Asset Management LLC now owns 1,204,253 shares of the company’s stock worth $6,803,000 after buying an additional 281,224 shares in the last quarter. Kynam Capital Management LP raised its holdings in Sutro Biopharma by 28.9% in the fourth quarter. Kynam Capital Management LP now owns 2,001,727 shares of the company’s stock valued at $8,587,000 after acquiring an additional 449,052 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in Sutro Biopharma by 42.5% in the fourth quarter. Vontobel Holding Ltd. now owns 641,684 shares of the company’s stock valued at $2,753,000 after acquiring an additional 191,345 shares in the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Down 4.9 %

NASDAQ:STRO traded down $0.21 during mid-day trading on Tuesday, reaching $4.07. 593,762 shares of the stock were exchanged, compared to its average volume of 910,680. The stock has a market capitalization of $332.89 million, a P/E ratio of -2.16 and a beta of 1.23. Sutro Biopharma, Inc. has a 1 year low of $2.01 and a 1 year high of $6.13. The company has a 50 day simple moving average of $3.68 and a 200-day simple moving average of $4.12.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Monday, May 13th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.03). Sutro Biopharma had a negative return on equity of 94.18% and a negative net margin of 74.61%. The business had revenue of $13.01 million for the quarter, compared to analysts’ expectations of $11.57 million. As a group, research analysts predict that Sutro Biopharma, Inc. will post -3.5 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on STRO shares. Piper Sandler reissued an “overweight” rating and issued a $11.00 price objective (down 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 price target on shares of Sutro Biopharma in a research note on Wednesday, April 3rd. Bank of America started coverage on Sutro Biopharma in a research report on Wednesday, May 8th. They set a “buy” rating and a $12.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $8.00 target price on shares of Sutro Biopharma in a research report on Tuesday, May 14th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $10.00 price target on shares of Sutro Biopharma in a report on Wednesday, May 15th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.50.

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.