Jacobs Levy Equity Management Inc. Lowers Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

Jacobs Levy Equity Management Inc. decreased its stake in Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 21.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 821,746 shares of the company's stock after selling 228,443 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.00% of Sutro Biopharma worth $2,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Sutro Biopharma during the 3rd quarter valued at about $2,852,000. Vanguard Group Inc. raised its stake in shares of Sutro Biopharma by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company's stock worth $17,079,000 after acquiring an additional 132,790 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Sutro Biopharma by 30.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company's stock worth $4,613,000 after acquiring an additional 370,705 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Sutro Biopharma in the 3rd quarter valued at $1,512,000. Finally, AQR Capital Management LLC grew its holdings in shares of Sutro Biopharma by 691.5% during the 2nd quarter. AQR Capital Management LLC now owns 283,516 shares of the company's stock valued at $831,000 after purchasing an additional 247,694 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on STRO. HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of Sutro Biopharma in a research note on Monday, November 18th. Truist Financial dropped 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. Piper Sandler restated 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 reiterated a "market outperform" rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $12.14.

Sutro Biopharma Price Performance

NASDAQ:STRO traded up $0.06 during mid-day trading on Friday, reaching $2.84. 1,319,314 shares of the company's stock traded hands, compared to its average volume of 943,610. The company has a 50 day moving average price of $3.37 and a 200-day moving average price of $3.67. The firm has a market capitalization of $234.19 million, a price-to-earnings ratio of -1.76 and a beta of 1.09. Sutro Biopharma, Inc. has a 12-month low of $2.45 and a 12-month high of $6.13.

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.