Intech Investment Management LLC Makes New Investment in Sutro Biopharma, Inc. (NASDAQ:STRO)

Intech Investment Management LLC purchased a new position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 26,336 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its holdings in Sutro Biopharma by 1,606.1% in 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 during the period. Vanguard Group Inc. grew its stake in Sutro Biopharma by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock worth $17,079,000 after purchasing an additional 132,790 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Sutro Biopharma by 30.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock valued at $4,613,000 after purchasing 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 worth $2,659,000 after acquiring an additional 122,299 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Sutro Biopharma by 48.1% in the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock valued at $2,108,000 after purchasing an additional 233,700 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Up 2.2 %

NASDAQ STRO opened at $2.84 on Monday. The firm has a 50-day moving average price of $3.37 and a 200 day moving average price of $3.67. Sutro Biopharma, Inc. has a 52-week low of $2.45 and a 52-week high of $6.13. The stock has a market capitalization of $234.19 million, a P/E ratio of -1.76 and a beta of 1.09.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on STRO shares. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Monday, September 16th. Truist Financial dropped their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a research note on Friday, October 11th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Sutro Biopharma in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $12.14.

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.