Millennium Management LLC Buys 25,037 Shares of Sutro Biopharma Inc (NASDAQ:STRO)

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Millennium Management LLC grew its stake in Sutro Biopharma Inc (NASDAQ:STRO) by 2,503.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,037 shares of the company’s stock after buying an additional 25,037 shares during the period. Millennium Management LLC owned 0.11% of Sutro Biopharma worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in Sutro Biopharma by 1,365.7% during the second quarter. Acadian Asset Management LLC now owns 9,058 shares of the company’s stock worth $103,000 after purchasing an additional 8,440 shares during the period. Barclays PLC grew its stake in Sutro Biopharma by 30.9% during the third quarter. Barclays PLC now owns 12,732 shares of the company’s stock worth $116,000 after purchasing an additional 3,006 shares during the period. Rhumbline Advisers grew its stake in Sutro Biopharma by 9.3% during the third quarter. Rhumbline Advisers now owns 13,578 shares of the company’s stock worth $123,000 after purchasing an additional 1,156 shares during the period. Wells Fargo & Company MN grew its stake in Sutro Biopharma by 240.7% during the second quarter. Wells Fargo & Company MN now owns 11,484 shares of the company’s stock worth $130,000 after purchasing an additional 8,113 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Sutro Biopharma by 67.7% in the third quarter. Squarepoint Ops LLC now owns 20,951 shares of the company’s stock worth $190,000 after acquiring an additional 8,456 shares in the last quarter. 47.96% of the stock is owned by institutional investors and hedge funds.

Several research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Sutro Biopharma in a report on Monday, October 21st. SunTrust Banks assumed coverage on Sutro Biopharma in a report on Monday. They issued a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research lowered Sutro Biopharma from a “buy” rating to a “hold” rating in a report on Tuesday. BTIG Research assumed coverage on Sutro Biopharma in a report on Monday, October 7th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, Wedbush restated an “outperform” rating on shares of Sutro Biopharma in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Sutro Biopharma has an average rating of “Buy” and an average price target of $18.29.

NASDAQ:STRO traded down $0.24 during trading hours on Tuesday, reaching $11.77. The stock had a trading volume of 45,300 shares, compared to its average volume of 113,111. The stock has a 50 day simple moving average of $11.09 and a 200 day simple moving average of $10.39. Sutro Biopharma Inc has a 12-month low of $7.69 and a 12-month high of $12.75. The stock has a market cap of $277.08 million, a P/E ratio of -1.92 and a beta of 1.11.

Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.56) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.09. The company had revenue of $12.28 million during the quarter, compared to analysts’ expectations of $8.88 million. As a group, equities research analysts expect that Sutro Biopharma Inc will post -2.49 earnings per share for the current year.

Sutro Biopharma Company Profile

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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Institutional Ownership by Quarter for Sutro Biopharma (NASDAQ:STRO)

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