Barclays PLC Acquires 216,757 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Barclays PLC raised its stake in Sutro Biopharma, Inc. (NASDAQ:STRO) by 385.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,019 shares of the company’s stock after acquiring an additional 216,757 shares during the quarter. Barclays PLC owned approximately 0.33% of Sutro Biopharma worth $944,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in STRO. ProShare Advisors LLC lifted its stake in Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Sutro Biopharma by 9.7% during the second quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock worth $173,000 after buying an additional 5,404 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Sutro Biopharma by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after buying an additional 7,082 shares in the last quarter. Gladius Capital Management LP bought a new position in shares of Sutro Biopharma in the 3rd quarter valued at $28,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Sutro Biopharma by 134.6% during the 3rd quarter. SG Americas Securities LLC now owns 34,662 shares of the company’s stock valued at $120,000 after acquiring an additional 19,890 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Stock Performance

NASDAQ:STRO opened at $1.72 on Wednesday. Sutro Biopharma, Inc. has a 52 week low of $1.67 and a 52 week high of $6.13. The firm’s fifty day moving average is $2.56 and its 200-day moving average is $3.37. The firm has a market cap of $141.83 million, a P/E ratio of -1.07 and a beta of 1.15.

Wall Street Analyst Weigh In

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