Geode Capital Management LLC Purchases 132,015 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Geode Capital Management LLC lifted its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 7.7% in the third quarter, HoldingsChannel reports. The fund owned 1,856,956 shares of the company’s stock after buying an additional 132,015 shares during the period. Geode Capital Management LLC’s holdings in Sutro Biopharma were worth $6,426,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Point72 Asset Management L.P. lifted its position 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 purchasing an additional 4,186,938 shares during the period. Bank of Montreal Can bought a new stake in shares of Sutro Biopharma during the third quarter worth approximately $2,852,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sutro Biopharma in the third quarter valued at approximately $1,512,000. Acadian Asset Management LLC boosted its stake 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 valued at $4,613,000 after acquiring an additional 370,705 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Sutro Biopharma by 691.5% during the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock worth $831,000 after acquiring an additional 247,694 shares during the period. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Stock Up 1.0 %

Shares of Sutro Biopharma stock opened at $1.95 on Friday. The stock has a market cap of $160.80 million, a P/E ratio of -1.21 and a beta of 1.09. Sutro Biopharma, Inc. has a 12-month low of $1.70 and a 12-month high of $6.13. The business’s 50 day moving average is $2.75 and its 200-day moving average is $3.41.

Analyst Ratings Changes

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