Sutro Biopharma Inc (STRO) SEC 13F Holdings (Q2 2026) — Net Institutional Activity: $125.0M

STRO ranks #4556 out of 37696 tracked stocks by institutional interest, inside the more closely watched half of our coverage.

STRO is a top-conviction position for Velan Capital Investment Management LP — at 10.4% of their entire disclosed 13F portfolio, it's one of their largest single bets, not just a passing allocation.

The largest dollar stake in STRO belongs to Perceptive Advisors LLC, but the position matters far more to Velan Capital Investment Management LP, who has 10.4% of their own portfolio riding on it — a reminder that the biggest holder by size and the holder with the biggest bet aren't always the same fund.

STRO is up 4.5% today, and institutions have been net buyers of $125.0M this quarter — today's price move and the underlying institutional flow are pointing the same direction.

STRO reported a net loss of $180.6M over the trailing twelve months.

• Not yet profitable — net loss of $180.6M over the trailing twelve months
• Revenue declined 56.3% year over year
• Net income improved year over year, from -$208.7M to -$180.6M
• Operating cash flow was negative, using $177.2M in cash
• Current ratio of 2.01x — enough short-term assets to cover short-term liabilities
• Total liabilities currently exceed total assets (negative shareholder equity)