Eversept Partners LP Has $2.24 Million Stock Holdings in Sutro Biopharma, Inc. $STRO

Eversept Partners LP lessened its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 91.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 193,571 shares of the company’s stock after selling 2,097,742 shares during the quarter. Eversept Partners LP owned about 2.27% of Sutro Biopharma worth $2,240,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $2,662,000. ADAR1 Capital Management LLC acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $776,000. Spruce Street Capital LP acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $875,000. Jane Street Group LLC acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth about $265,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Sutro Biopharma during the 3rd quarter worth about $387,000. Institutional investors and hedge funds own 96.99% of the company’s stock.

Wall Street Analysts Forecast Growth

STRO has been the subject of several analyst reports. Citizens Jmp lifted their price objective on shares of Sutro Biopharma from $35.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 23rd. Wall Street Zen cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Sunday. Truist Financial initiated coverage on shares of Sutro Biopharma in a research note on Thursday, June 11th. They issued a “buy” rating and a $50.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. Finally, Lifesci Capital upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sutro Biopharma has an average rating of “Moderate Buy” and a consensus price target of $52.44.

Sutro Biopharma Trading Up 0.9%

Shares of NASDAQ:STRO opened at $28.41 on Thursday. The firm has a 50 day moving average of $31.30 and a 200-day moving average of $21.39. The stock has a market capitalization of $470.75 million, a PE ratio of -2.57 and a beta of 1.54. Sutro Biopharma, Inc. has a 12 month low of $6.74 and a 12 month high of $43.85.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Thursday, May 14th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.74) by ($0.20). The firm had revenue of $14.52 million for the quarter, compared to the consensus estimate of $8.89 million. On average, research analysts predict that Sutro Biopharma, Inc. will post -9.29 EPS for the current fiscal year.

Sutro Biopharma Profile

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.