Connor Clark & Lunn Investment Management Ltd. Invests $1.51 Million in Sutro Biopharma, Inc. (NASDAQ:STRO)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 437,051 shares of the company's stock, valued at approximately $1,512,000. Connor Clark & Lunn Investment Management Ltd. owned 0.53% of Sutro Biopharma as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gladius Capital Management LP bought a new stake in shares of Sutro Biopharma during the third quarter valued at approximately $28,000. ProShare Advisors LLC lifted its stake in shares of Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock valued at $48,000 after buying an additional 5,373 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Sutro Biopharma during the first quarter valued at about $92,000. The Manufacturers Life Insurance Company increased its position in shares of Sutro Biopharma by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company's stock worth $97,000 after acquiring an additional 7,082 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Sutro Biopharma by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company's stock valued at $102,000 after acquiring an additional 3,578 shares in the last quarter. Institutional investors own 96.99% of the company's stock.

Sutro Biopharma Trading Up 3.5 %

Shares of NASDAQ STRO traded up $0.09 during midday trading on Wednesday, hitting $2.69. 574,394 shares of the company's stock were exchanged, compared to its average volume of 816,284. The business's fifty day moving average price is $3.51 and its two-hundred day moving average price is $3.76. The company has a market cap of $221.81 million, a price-to-earnings ratio of -1.61 and a beta of 1.17. Sutro Biopharma, Inc. has a 12-month low of $2.25 and a 12-month high of $6.13.

Analyst Upgrades and Downgrades

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

Sutro Biopharma Company 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.