Cornercap Investment Counsel Inc. Decreases Position in Sutro Biopharma, Inc. (NASDAQ:STRO)

Cornercap Investment Counsel Inc. decreased its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 47.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 18,563 shares of the company’s stock after selling 16,797 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Sutro Biopharma were worth $64,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in Sutro Biopharma by 1,606.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock valued at $13,032,000 after acquiring an additional 4,186,938 shares during the period. Vanguard Group Inc. lifted its position in Sutro Biopharma by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after purchasing an additional 132,790 shares during the period. Acadian Asset Management LLC boosted its holdings in Sutro Biopharma by 30.8% in the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after purchasing an additional 370,705 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Sutro Biopharma by 214.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,069,522 shares of the company’s stock worth $6,043,000 after purchasing an additional 729,239 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in Sutro Biopharma by 15.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock valued at $2,659,000 after buying an additional 122,299 shares during the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Price Performance

STRO stock opened at $2.75 on Tuesday. Sutro Biopharma, Inc. has a 1-year low of $2.13 and a 1-year high of $6.13. The business has a 50 day simple moving average of $3.71 and a two-hundred day simple moving average of $3.82. The company has a market capitalization of $226.76 million, a price-to-earnings ratio of -1.71 and a beta of 1.17.

Wall Street Analyst Weigh In

Several research firms have issued reports on STRO. Piper Sandler reissued an “overweight” rating and set a $11.00 price target on shares of Sutro Biopharma in a report on Friday, October 11th. 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. Truist Financial lowered their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Sutro Biopharma has an average rating of “Buy” and an average target price of $12.14.

About Sutro Biopharma

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.