Sphera Funds Management LTD. Invests $4.13 Million in Sutro Biopharma Inc (STRO)

Sphera Funds Management LTD. acquired a new stake in shares of Sutro Biopharma Inc (NASDAQ:STRO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 275,000 shares of the company’s stock, valued at approximately $4,125,000. Sphera Funds Management LTD. owned about 1.21% of Sutro Biopharma as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in STRO. Dean Capital Investments Management LLC bought a new position in Sutro Biopharma during the third quarter valued at $592,000. JPMorgan Chase & Co. bought a new position in Sutro Biopharma during the third quarter valued at $1,501,000. Monashee Investment Management LLC bought a new position in Sutro Biopharma during the third quarter valued at $1,575,000. AWM Investment Company Inc. bought a new position in Sutro Biopharma during the third quarter valued at $1,672,000. Finally, Jennison Associates LLC bought a new position in Sutro Biopharma during the third quarter valued at $2,250,000. Institutional investors and hedge funds own 39.97% of the company’s stock.

In other news, major shareholder Merck & Co., Inc. bought 666,666 shares of Sutro Biopharma stock in a transaction dated Monday, October 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $9,999,990.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

STRO has been the subject of several research reports. Piper Jaffray Companies initiated coverage on shares of Sutro Biopharma in a research report on Monday, October 22nd. They set an “overweight” rating and a $23.00 price objective for the company. JMP Securities initiated coverage on shares of Sutro Biopharma in a research report on Monday, October 22nd. They set an “outperform” rating and a $28.00 price objective for the company. Wedbush initiated coverage on shares of Sutro Biopharma in a research report on Monday, October 22nd. They set an “outperform” rating and a $20.00 price objective for the company. Finally, Cowen initiated coverage on shares of Sutro Biopharma in a research report on Monday, October 22nd. They set an “outperform” rating for the company.

STRO stock opened at $10.27 on Friday. Sutro Biopharma Inc has a 52 week low of $9.50 and a 52 week high of $15.90.

Sutro Biopharma (NASDAQ:STRO) last announced its earnings results on Wednesday, November 14th. The company reported ($21.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($21.10). The firm had revenue of $7.84 million for the quarter. Analysts expect that Sutro Biopharma Inc will post -4.63 earnings per share for the current fiscal year.

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Sutro Biopharma 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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