MetLife Investment Management LLC Decreases Stock Holdings in Sutro Biopharma, Inc. (NASDAQ:STRO)

MetLife Investment Management LLC cut its stake in Sutro Biopharma, Inc. (NASDAQ:STRO) by 36.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 30,898 shares of the company’s stock after selling 17,692 shares during the quarter. MetLife Investment Management LLC’s holdings in Sutro Biopharma were worth $107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of STRO. Gladius Capital Management LP purchased a new position in Sutro Biopharma in the 3rd quarter valued at approximately $28,000. ProShare Advisors LLC increased its position in shares of Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after buying an additional 5,373 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Sutro Biopharma in the third quarter valued at $91,000. The Manufacturers Life Insurance Company raised its stake in shares of Sutro Biopharma by 27.4% during the 2nd 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock worth $102,000 after buying an additional 3,578 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Sutro Biopharma Stock Performance

NASDAQ STRO opened at $2.81 on Tuesday. The firm has a market capitalization of $231.71 million, a price-to-earnings ratio of -1.75 and a beta of 1.09. Sutro Biopharma, Inc. has a one year low of $2.45 and a one year high of $6.13. The company’s 50 day moving average price is $3.36 and its 200 day moving average price is $3.67.

Sutro Biopharma 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.