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

Suvretta Capital Management LLC decreased its holdings in Sutro Biopharma, Inc. (NASDAQ:STRO) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,187,495 shares of the company’s stock after selling 521,195 shares during the quarter. Suvretta Capital Management LLC owned approximately 8.77% of Sutro Biopharma worth $24,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently 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 worth $13,032,000 after acquiring an additional 4,186,938 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Sutro Biopharma during the third quarter worth approximately $2,852,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Sutro Biopharma during the third quarter valued at approximately $1,512,000. Acadian Asset Management LLC increased 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 valued at $4,613,000 after purchasing an additional 370,705 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Sutro Biopharma by 691.5% in the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company’s stock worth $831,000 after purchasing an additional 247,694 shares during the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Analyst Ratings Changes

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

Sutro Biopharma Trading Up 3.5 %

Shares of NASDAQ:STRO opened at $2.69 on Friday. The firm’s 50 day simple moving average is $3.48 and its 200 day simple moving average is $3.75. Sutro Biopharma, Inc. has a fifty-two week low of $2.25 and a fifty-two week high of $6.13.

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.