Fmr LLC Buys 37,701 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Fmr LLC boosted its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 24.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,041 shares of the company’s stock after buying an additional 37,701 shares during the quarter. Fmr LLC’s holdings in Sutro Biopharma were worth $654,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings 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 last quarter. Bank of Montreal Can bought a new position in shares of Sutro Biopharma during the third quarter valued at approximately $2,852,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Sutro Biopharma during the third quarter valued at approximately $1,512,000. Acadian Asset Management LLC raised its holdings in shares of Sutro Biopharma by 30.8% in the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after buying an additional 370,705 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of 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 last quarter. Institutional investors own 96.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STRO. Wells Fargo & Company cut their price objective on 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. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price target on shares of Sutro Biopharma in a research note on Friday, October 11th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Sutro Biopharma in a research report on Tuesday, December 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.13.

Sutro Biopharma Stock Up 1.0 %

Shares of STRO stock opened at $2.09 on Wednesday. The firm has a market cap of $172.34 million, a price-to-earnings ratio of -1.30 and a beta of 1.09. Sutro Biopharma, Inc. has a 52-week low of $2.03 and a 52-week high of $6.13. The company’s 50 day moving average is $3.23 and its 200 day moving average is $3.60.

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.