Sphera Funds Management LTD. bought a new stake in shares of Sutro Biopharma Inc (NASDAQ:STRO) during the third quarter, HoldingsChannel.com reports. The fund bought 275,000 shares of the company’s stock, valued at approximately $4,125,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of STRO. Dean Capital Investments Management LLC purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $592,000. JPMorgan Chase & Co. purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $1,501,000. Monashee Investment Management LLC purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $1,575,000. AWM Investment Company Inc. purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $1,672,000. Finally, Jennison Associates LLC purchased a new position in Sutro Biopharma during the 3rd quarter valued at about $2,250,000. 39.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Merck & Co., Inc. purchased 666,666 shares of the stock in a transaction dated Monday, October 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $9,999,990.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
NASDAQ:STRO opened at $10.27 on Friday. Sutro Biopharma Inc has a fifty-two week low of $9.50 and a fifty-two week high of $15.90.
Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Wednesday, November 14th. The company reported ($21.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($21.10). The firm had revenue of $7.84 million for the quarter. As a group, analysts expect that Sutro Biopharma Inc will post -4.63 EPS for the current year.
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About Sutro Biopharma
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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