Sutro Biopharma, Inc. $STRO Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. sold 97,319 shares, cutting its stake by 56.1% and now holds 76,158 shares (about 0.89% of Sutro Biopharma) valued at roughly $66,000.
• Institutional ownership stands at 96.99%, with several funds increasing positions recently (e.g., Bridgeway +232.6% to 42,900 shares, Invesco +137.8% to 92,139 shares, Bank of America +51.3% to 119,434 shares).
• Sutro’s stock recently hit a one‑year high of $34.58, has a market cap of about $573M, and carries a consensus "Moderate Buy" rating with an average target of $38.88.

JPMorgan Chase & Co. lowered its position in shares of Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report) by 56.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,158 shares of the company's stock after selling 97,319 shares during the period. JPMorgan Chase & Co. owned 0.89% of Sutro Biopharma worth $66,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bridgeway Capital Management LLC grew its stake in shares of Sutro Biopharma by 232.6% during the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company's stock worth $37,000 after purchasing an additional 30,000 shares in the last quarter. Invesco Ltd. grew its stake in shares of Sutro Biopharma by 137.8% during the first quarter. Invesco Ltd. now owns 92,139 shares of the company's stock worth $60,000 after purchasing an additional 53,390 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Sutro Biopharma by 169.9% during the second quarter. Cerity Partners LLC now owns 105,437 shares of the company's stock worth $75,000 after purchasing an additional 66,372 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Sutro Biopharma during the second quarter worth $82,000. Finally, Bank of America Corp DE grew its stake in shares of Sutro Biopharma by 51.3% during the third quarter. Bank of America Corp DE now owns 119,434 shares of the company's stock worth $104,000 after purchasing an additional 40,488 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company's stock.

Sutro Biopharma Stock Performance

Shares of NASDAQ:STRO opened at $34.58 on Tuesday. The company has a 50-day simple moving average of $22.82 and a 200-day simple moving average of $15.03. Sutro Biopharma, Inc. has a one year low of $5.33 and a one year high of $34.58. The stock has a market capitalization of $572.99 million, a price-to-earnings ratio of -1.32 and a beta of 1.31.

Analyst Upgrades and Downgrades

STRO has been the subject of a number of research reports. Wall Street Zen raised shares of Sutro Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. Citigroup reissued an "outperform" rating on shares of Sutro Biopharma in a research report on Friday. Leerink Partners initiated coverage on shares of Sutro Biopharma in a research report on Tuesday, April 7th. They issued an "outperform" rating and a $38.00 price target for the company. Wells Fargo & Company raised shares of Sutro Biopharma from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $8.00 to $27.00 in a research report on Tuesday, March 24th. Finally, Citizens Jmp boosted their price target on shares of Sutro Biopharma from $23.00 to $35.00 and gave the company a "market outperform" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.88.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.

Want to see what other hedge funds are holding STRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sutro Biopharma, Inc. (NASDAQ:STRO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.