Bank of Montreal Can Makes New Investment in Sutro Biopharma, Inc. (NASDAQ:STRO)

Bank of Montreal Can purchased a new stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 814,955 shares of the company's stock, valued at approximately $2,852,000. Bank of Montreal Can owned 0.99% of Sutro Biopharma at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of STRO. Charles Schwab Investment Management Inc. lifted its holdings in Sutro Biopharma by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 251,995 shares of the company's stock valued at $872,000 after acquiring an additional 35,167 shares during the period. Intech Investment Management LLC bought a new position in shares of Sutro Biopharma in the 3rd quarter worth approximately $91,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sutro Biopharma in the third quarter worth approximately $1,512,000. Gladius Capital Management LP bought a new stake in Sutro Biopharma during the third quarter valued at approximately $28,000. Finally, SG Americas Securities LLC raised its position in Sutro Biopharma by 134.6% in the third quarter. SG Americas Securities LLC now owns 34,662 shares of the company's stock worth $120,000 after acquiring an additional 19,890 shares during the period. 96.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Sutro Biopharma Stock Down 2.1 %

STRO traded down $0.06 on Thursday, hitting $2.78. 1,186,173 shares of the company's stock traded hands, compared to its average volume of 826,858. The company's 50 day simple moving average is $3.40 and its 200-day simple moving average is $3.70. Sutro Biopharma, Inc. has a one year low of $2.45 and a one year high of $6.13.

Sutro Biopharma 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.