State Street Corp Buys 81,855 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

State Street Corp raised its position in Sutro Biopharma, Inc. (NASDAQ:STRO) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,647,162 shares of the company’s stock after purchasing an additional 81,855 shares during the quarter. State Street Corp owned 2.01% of Sutro Biopharma worth $5,699,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of STRO. Point72 Asset Management L.P. lifted its holdings in Sutro Biopharma by 1,606.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock valued at $13,032,000 after buying an additional 4,186,938 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in 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 acquiring an additional 370,705 shares in the last quarter. Panagora Asset Management Inc. grew its position in Sutro Biopharma by 15.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock worth $2,659,000 after purchasing an additional 122,299 shares during the last quarter. Bank of Montreal Can purchased a new stake in Sutro Biopharma during the 3rd quarter valued at about $2,852,000. Finally, Renaissance Technologies LLC lifted its stake in 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 period. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Stock Down 4.1 %

NASDAQ STRO opened at $1.89 on Friday. Sutro Biopharma, Inc. has a 52 week low of $1.70 and a 52 week high of $6.13. The firm has a market cap of $155.85 million, a PE ratio of -1.17 and a beta of 1.09. The business’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.47.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wedbush reiterated 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 reiterated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Wells Fargo & Company dropped their price target on shares of Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Sutro Biopharma currently has a consensus rating of “Moderate Buy” and an average 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.