Point72 Asset Management L.P. Sells 1,450,181 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Point72 Asset Management L.P. lowered its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 32.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,997,453 shares of the company’s stock after selling 1,450,181 shares during the quarter. Point72 Asset Management L.P.’s holdings in Sutro Biopharma were worth $10,371,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of STRO. Vanguard Group Inc. grew its position in Sutro Biopharma by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after acquiring an additional 132,790 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 valued at $102,000 after acquiring an additional 3,578 shares during the last quarter. Bank of New York Mellon Corp grew its position in Sutro Biopharma by 47.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 272,719 shares of the company’s stock valued at $799,000 after acquiring an additional 88,034 shares during the last quarter. Panagora Asset Management Inc. grew its position in Sutro Biopharma by 15.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock valued at $2,659,000 after acquiring an additional 122,299 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Sutro Biopharma by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 116,099 shares of the company’s stock valued at $340,000 after acquiring an additional 21,935 shares during the last quarter. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Trading Up 2.2 %

STRO opened at $2.84 on Friday. Sutro Biopharma, Inc. has a 12-month low of $2.45 and a 12-month high of $6.13. The business’s fifty day simple moving average is $3.37 and its 200-day simple moving average is $3.68. The company has a market capitalization of $234.19 million, a price-to-earnings ratio of -1.76 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities analysts have commented on STRO shares. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a research report on Friday, October 11th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Finally, 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 report on Friday, August 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.