Suvretta Capital Management LLC Sells 521,195 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Suvretta Capital Management LLC cut its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,187,495 shares of the company’s stock after selling 521,195 shares during the quarter. Suvretta Capital Management LLC owned about 0.09% of Sutro Biopharma worth $24,869,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of STRO. Price T Rowe Associates Inc. MD boosted its holdings in shares of Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after buying an additional 3,578 shares during the period. ProShare Advisors LLC boosted its stake in Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after purchasing an additional 5,373 shares during the period. Hsbc Holdings PLC increased its holdings in Sutro Biopharma by 9.7% during the 2nd quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock worth $173,000 after purchasing an additional 5,404 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in 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 purchasing an additional 7,082 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Sutro Biopharma in the third quarter valued at about $28,000. 96.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on STRO shares. JMP Securities reiterated a “market outperform” rating and set a $17.00 price objective on shares of Sutro Biopharma in a report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a research note on Monday, November 18th. Truist Financial cut their price objective 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $12.14.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $2.69 on Friday. Sutro Biopharma, Inc. has a 12 month low of $2.25 and a 12 month high of $6.13. The stock has a 50 day moving average of $3.48 and a 200-day moving average of $3.75.

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.