Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Sutro Biopharma, Inc. (NASDAQ:STRO)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Sutro Biopharma, Inc. (NASDAQ:STRO) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 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 filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its position in Sutro Biopharma by 192.9% in the 1st quarter. Russell Investments Group Ltd. now owns 111,955 shares of the company’s stock valued at $633,000 after acquiring an additional 73,731 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Sutro Biopharma by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock worth $17,079,000 after purchasing an additional 132,790 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Sutro Biopharma in the 1st quarter valued at approximately $92,000. Price T Rowe Associates Inc. MD grew its stake in shares of Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after buying an additional 3,578 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Sutro Biopharma by 56.5% during the first quarter. Public Employees Retirement System of Ohio now owns 96,657 shares of the company’s stock worth $546,000 after acquiring an additional 34,879 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO opened at $2.60 on Wednesday. The firm has a market cap of $214.40 million, a price-to-earnings ratio of -1.62 and a beta of 1.17. The stock’s fifty day moving average price is $3.54 and its two-hundred day moving average price is $3.77. Sutro Biopharma, Inc. has a one year low of $2.13 and a one year high of $6.13.

Wall Street Analyst Weigh In

STRO has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday, November 18th. Truist Financial dropped their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a research note on Friday, October 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and set 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, Sutro Biopharma has a consensus rating of “Buy” and a consensus price target of $12.14.

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.