Sutro Biopharma (STRO) reported second-quarter 2026 financial results and provided an early update on its STRO-004 Phase 1 study in advanced solid tumors. The company reported revenue of $9.8 million for the quarter ended June 30, 2026, compared with $63.7 million a year earlier.
Sutro said STRO-004 showed encouraging early clinical activity, including confirmed and ongoing unconfirmed partial responses, with favorable tolerability. The company had $164.3 million in cash, cash equivalents and marketable securities as of June 30, 2026, which it expects to support operations into at least the second quarter of 2028.
- Net loss was $38.5 million, or $2.33 per share, basic and diluted, for the second quarter of 2026.
- Total R&D and G&A expenses were $39.5 million, compared with $48.7 million in the prior-year quarter.
- STRO-004 dose escalation enrolled dose levels 1 through 5 mg/kg in 49 patients, with dose optimization ongoing between 4 and 5 mg/kg.
- STRO-006 is expected to enter a Phase 1 clinical trial in the third quarter of 2026.
- A second Astellas-partnered dual-payload iADC program is expected to enter the clinic by the end of 2026.
$STRO Hedge Fund Activity
We have seen 50 institutional investors add shares of $STRO stock to their portfolio, and 21 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BVF INC/IL added 1,251,788 shares (+inf%) to their portfolio in Q1 2026, for an estimated $31,182,039
- BLACKROCK, INC. added 889,971 shares (+382.5%) to their portfolio in Q2 2026, for an estimated $29,547,037
- ORBIMED ADVISORS LLC added 801,144 shares (+inf%) to their portfolio in Q1 2026, for an estimated $19,956,497
- RA CAPITAL MANAGEMENT, L.P. added 715,307 shares (+inf%) to their portfolio in Q1 2026, for an estimated $17,818,297
- EVENTIDE ASSET MANAGEMENT, LLC added 715,307 shares (+inf%) to their portfolio in Q1 2026, for an estimated $17,818,297
- POINT72 ASSET MANAGEMENT, L.P. added 513,023 shares (+286.5%) to their portfolio in Q1 2026, for an estimated $12,779,402
- WOODLINE PARTNERS LP added 457,441 shares (+inf%) to their portfolio in Q1 2026, for an estimated $11,394,855
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
