Fmr LLC Acquires 37,701 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Fmr LLC lifted its stake in Sutro Biopharma, Inc. (NASDAQ:STRO) by 24.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,041 shares of the company’s stock after purchasing an additional 37,701 shares during the period. Fmr LLC owned 0.23% of Sutro Biopharma worth $654,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of STRO. Bank of Montreal Can bought a new position in shares of Sutro Biopharma in the third quarter worth about $2,852,000. Acadian Asset Management LLC increased its stake in shares of Sutro Biopharma by 30.8% in the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after purchasing an additional 370,705 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Sutro Biopharma during the 3rd quarter valued at $1,512,000. AQR Capital Management LLC lifted its stake in shares of Sutro Biopharma by 691.5% during the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock valued at $831,000 after buying an additional 247,694 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Sutro Biopharma in the 3rd quarter worth $91,000. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Stock Up 1.0 %

Shares of NASDAQ:STRO opened at $2.09 on Wednesday. The firm has a fifty day simple moving average of $3.23 and a two-hundred day simple moving average of $3.60. Sutro Biopharma, Inc. has a 52 week low of $2.03 and a 52 week high of $6.13. The stock has a market capitalization of $172.34 million, a P/E ratio of -1.30 and a beta of 1.09.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company decreased their price target on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $11.00 price target on shares of Sutro Biopharma in a report on Friday, October 11th. JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a report on Wednesday, December 11th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a report on Monday, November 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Sutro Biopharma in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Sutro Biopharma currently has an average rating of “Moderate Buy” and a consensus target price of $11.13.

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.