State Street Corp Boosts Stock Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

State Street Corp lifted its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,647,162 shares of the company’s stock after buying an additional 81,855 shares during the quarter. State Street Corp’s holdings in Sutro Biopharma were worth $5,699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STRO. Point72 Asset Management L.P. grew its stake 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 worth $13,032,000 after buying an additional 4,186,938 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Sutro Biopharma by 30.8% during 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 during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Sutro Biopharma by 15.6% in 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 during the period. Bank of Montreal Can acquired a new position in Sutro Biopharma during the 3rd quarter worth approximately $2,852,000. Finally, Renaissance Technologies LLC raised its position in Sutro Biopharma by 48.1% in the second quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock worth $2,108,000 after acquiring an additional 233,700 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Stock Down 4.1 %

Shares of STRO stock opened at $1.89 on Friday. The firm’s 50 day moving average price is $2.91 and its two-hundred day moving average price is $3.47. Sutro Biopharma, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $6.13. The stock has a market cap of $155.85 million, a price-to-earnings ratio of -1.17 and a beta of 1.09.

Analysts Set New Price Targets

Several research analysts have weighed in on STRO shares. Piper Sandler restated an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. JMP Securities reissued a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a report on Wednesday, December 11th. Wells Fargo & Company reduced their target price on 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. Wedbush reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Sutro Biopharma in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.