Sutro Biopharma Inc (STRO) SEC 13F Holdings (Q2 2026) — Net Institutional Activity: $117.8M

STRO ranks #4550 out of 37501 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.

BlackRock has added to its STRO position for two straight quarters, increasing it by $35.9M to reach $37.3M today.

STRO is down 1.7% today, but institutions show net buying of $117.8M this quarter — a divergence between today's price move and the underlying institutional flow.

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)