Allspring Global Investments Holdings LLC lowered its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO – Free Report) by 23.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,227 shares of the company’s stock after selling 5,678 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sutro Biopharma were worth $85,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in shares of Sutro Biopharma by 331.7% during the 4th quarter. Wells Fargo & Company MN now owns 5,690 shares of the company’s stock valued at $46,000 after acquiring an additional 4,372 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Sutro Biopharma during the 1st quarter worth about $56,000. Point72 Hong Kong Ltd purchased a new stake in shares of Sutro Biopharma during the 2nd quarter worth about $46,000. Quantbot Technologies LP grew its holdings in shares of Sutro Biopharma by 117.1% during the 1st quarter. Quantbot Technologies LP now owns 8,900 shares of the company’s stock worth $73,000 after purchasing an additional 4,800 shares during the period. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of Sutro Biopharma during the 4th quarter worth about $77,000. Institutional investors and hedge funds own 89.40% of the company’s stock.
Sutro Biopharma Price Performance
Shares of NASDAQ STRO opened at $3.52 on Thursday. Sutro Biopharma, Inc. has a 1-year low of $3.03 and a 1-year high of $8.72. The firm has a market capitalization of $212.96 million, a PE ratio of -1.43 and a beta of 0.93. The business’s fifty day moving average price is $4.06 and its two-hundred day moving average price is $4.57.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on STRO. Wedbush decreased their target price on Sutro Biopharma from $20.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, August 11th. Oppenheimer assumed coverage on Sutro Biopharma in a report on Thursday, October 5th. They issued an “outperform” rating and a $10.00 price target for the company. JMP Securities restated a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a report on Monday, August 14th. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Sutro Biopharma in a report on Friday, August 11th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Sutro Biopharma in a research report on Wednesday, September 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Sutro Biopharma currently has a consensus rating of “Moderate Buy” and an average price target of $15.14.
View Our Latest Analysis on Sutro Biopharma
Insider Activity at Sutro Biopharma
In related news, insider Brunilda Shtylla sold 11,613 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $4.59, for a total value of $53,303.67. Following the completion of the transaction, the insider now owns 12,928 shares in the company, valued at approximately $59,339.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.
Sutro Biopharma Profile
Sutro Biopharma, Inc operates as a clinical-stage oncology company. It develops site-specific and novel-format antibody drug conjugates (ADC) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. The company's product candidates include STRO-001, an ADC directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.
Read More
- Five stocks we like better than Sutro Biopharma
- Large Cap Stock Definition and How to Invest
- Dollar Tree Won’t Be Trading At a Discount For Much Longer
- How to Buy Cheap Stocks Step by Step
- ASML Holding is a Great Buy but at a Cheaper Price
- The Significance of Brokerage Rankings in Stock Selection
- Oversold and Overextended, Abbott Laboratories is a Great Buy
Want to see what other hedge funds are holding STRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sutro Biopharma, Inc. (NASDAQ:STRO – Free Report).
Receive News & Ratings for Sutro Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sutro Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.
