Parkman Healthcare Partners LLC Sells 76,608 Shares of Sutro Biopharma, Inc. (NASDAQ:STRO)

Parkman Healthcare Partners LLC cut its stake in shares of Sutro Biopharma, Inc. (NASDAQ:STRO) by 4.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,716,132 shares of the company’s stock after selling 76,608 shares during the period. Parkman Healthcare Partners LLC owned about 2.09% of Sutro Biopharma worth $5,938,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Gladius Capital Management LP bought a new position in Sutro Biopharma in the third quarter valued at about $28,000. ProShare Advisors LLC boosted its position in Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after buying an additional 5,373 shares during the period. Intech Investment Management LLC bought a new stake in Sutro Biopharma during the 3rd quarter worth approximately $91,000. The Manufacturers Life Insurance Company increased its position in Sutro Biopharma by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after acquiring an additional 7,082 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Sutro Biopharma by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares during the last quarter. 96.99% of the stock is currently owned by institutional investors.

Sutro Biopharma Trading Up 0.4 %

STRO opened at $2.76 on Wednesday. The company has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $3.71. Sutro Biopharma, Inc. has a 1-year low of $2.45 and a 1-year high of $6.13. The company has a market cap of $227.59 million, a P/E ratio of -1.71 and a beta of 1.09.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Truist Financial decreased their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a research report on Monday, November 18th. Finally, Piper Sandler restated an “overweight” rating and issued a $11.00 price target on shares of Sutro Biopharma in a research report on Friday, October 11th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $12.14.

Sutro Biopharma Company 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.