Charles Schwab Investment Management Inc. Acquires 35,167 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Charles Schwab Investment Management Inc. boosted its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 16.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 251,995 shares of the company’s stock after acquiring an additional 35,167 shares during the period. Charles Schwab Investment Management Inc. owned 0.31% of Sutro Biopharma worth $872,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its position in shares of Sutro Biopharma by 1,606.1% in the second quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock worth $13,032,000 after buying an additional 4,186,938 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Sutro Biopharma by 30.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after acquiring an additional 370,705 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Sutro Biopharma by 15.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock valued at $2,659,000 after acquiring an additional 122,299 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Sutro Biopharma by 48.1% during the 2nd quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock valued at $2,108,000 after acquiring an additional 233,700 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sutro Biopharma in the third quarter valued at $1,512,000. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Trading Down 11.5 %

STRO opened at $1.85 on Thursday. The stock has a fifty day moving average price of $3.20 and a 200-day moving average price of $3.58. Sutro Biopharma, Inc. has a 12 month low of $1.81 and a 12 month high of $6.13. The firm has a market cap of $152.55 million, a price-to-earnings ratio of -1.15 and a beta of 1.09.

Analyst Upgrades and Downgrades

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

Sutro Biopharma Company 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.