Jennison Associates LLC raised its stake in shares of Sutro Biopharma Inc (NASDAQ:STRO) by 3.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 137,788 shares of the company’s stock after acquiring an additional 4,741 shares during the quarter. Jennison Associates LLC’s holdings in Sutro Biopharma were worth $1,569,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of STRO. JPMorgan Chase & Co. bought a new position in shares of Sutro Biopharma during the 3rd quarter worth about $1,501,000. SG Americas Securities LLC bought a new position in shares of Sutro Biopharma during the 4th quarter worth about $169,000. BlackRock Inc. increased its holdings in shares of Sutro Biopharma by 20.5% during the 4th quarter. BlackRock Inc. now owns 409,713 shares of the company’s stock worth $3,696,000 after purchasing an additional 69,813 shares during the period. Northern Trust Corp bought a new position in shares of Sutro Biopharma during the 4th quarter worth about $580,000. Finally, Geode Capital Management LLC bought a new position in shares of Sutro Biopharma during the 4th quarter worth about $456,000. Institutional investors own 49.00% of the company’s stock.
A number of research firms recently weighed in on STRO. Zacks Investment Research cut shares of Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Sutro Biopharma in a research note on Tuesday, May 7th. Wedbush upped their target price on shares of Sutro Biopharma from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. ValuEngine raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Cowen reissued a “buy” rating on shares of Sutro Biopharma in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.75.
NASDAQ STRO traded down $0.05 on Wednesday, reaching $12.03. The company’s stock had a trading volume of 724 shares, compared to its average volume of 26,368. The stock has a market cap of $273.27 million and a P/E ratio of -1.97. Sutro Biopharma Inc has a 52 week low of $8.50 and a 52 week high of $15.90.
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About Sutro Biopharma
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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