Rubric Capital Discloses 5.0% Stake in Sutro Biopharma

TL;DR

**Rubric Capital still owns 5.0% of Sutro Biopharma, a bullish sign from a big investor.**

AI Summary

Rubric Capital Management LP, a Delaware-based investment firm, filed an amended SC 13G/A on February 12, 2024, disclosing its beneficial ownership in Sutro Biopharma, Inc. As of December 31, 2023, Rubric Capital holds shared voting and dispositive power over 3,344,810 shares of Sutro Biopharma's Common Stock, representing 5.0% of the company's outstanding shares. This matters to investors because it indicates a significant institutional stake, suggesting Rubric Capital sees long-term value in Sutro Biopharma, which could be a positive signal for the stock.

Why It Matters

This filing shows a major institutional investor, Rubric Capital Management LP, maintains a significant stake in Sutro Biopharma, which can influence stock stability and investor confidence.

Risk Assessment

Risk Level: low — The filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a vote of confidence.

Analyst Insight

A smart investor would view this continued significant institutional ownership by Rubric Capital Management LP as a positive signal, potentially indicating confidence in Sutro Biopharma's long-term prospects, and might consider further research into the company's fundamentals.

Key Numbers

• 3,344,810 — Shares Beneficially Owned (Represents the total number of Sutro Biopharma shares Rubric Capital Management LP has shared voting and dispositive power over.)
• 5.0% — Percentage of Class (Indicates Rubric Capital Management LP's significant ownership stake in Sutro Biopharma, as of December 31, 2023.)
• 0 — Sole Voting Power (Shows Rubric Capital Management LP does not hold sole voting power over any shares, only shared voting power.)
• 0 — Sole Dispositive Power (Shows Rubric Capital Management LP does not hold sole dispositive power over any shares, only shared dispositive power.)

Key Players & Entities

• Rubric Capital Management LP (company) — the reporting person and investment firm
• Sutro Biopharma, Inc. (company) — the subject company whose shares are being reported
• 3,344,810 shares (dollar_amount) — the number of shares beneficially owned by Rubric Capital Management LP
• 5.0% (dollar_amount) — the percentage of Sutro Biopharma's class of securities beneficially owned
• December 31, 2023 (date) — the date of the event requiring the filing
• Delaware (company) — place of organization for Rubric Capital Management LP

Forward-Looking Statements

• Rubric Capital Management LP will maintain its significant stake in Sutro Biopharma, Inc. throughout 2024. (Rubric Capital Management LP) — medium confidence, target: 2024-12-31
• Sutro Biopharma, Inc.'s stock price will experience increased stability due to continued institutional ownership. (Sutro Biopharma, Inc.) — medium confidence, target: 2024-06-30

FAQ

Key Financial Figures

• $0.001 — OF CLASS OF SECURITIES: Common stock, $0.001 par value per share (the " Common

Filing Documents

• tm245464d19_sc13ga.htm (SC 13G/A) — 71KB
• 0001104659-24-013564.txt ( ) — 72KB

(a)

Item 1(a). NAME OF ISSUER: The name of the issuer is Sutro Biopharma, Inc. (the " Issuer "). Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: The Issuer's principal executive offices are located at 111 Oyster Point Blvd, South San Francisco, CA, 94080. Item 2(a). NAME OF PERSON FILING: This (i) Rubric Capital Management LP (" Rubric Capital "), the investment adviser to certain investment funds and/or accounts (collectively, the " Rubric Funds ") that hold the shares of Common Stock (as defined in Item 2(d) below) reported herein; and (ii) David Rosen (" Mr. Rosen "), Managing Member of Rubric Capital Management GP LLC, the general partner of Rubric Capital. The foregoing persons are hereinafter sometimes collectively referred to as the " Reporting Persons ." The filing of this statement should not be construed as an admission that any of the forgoing persons or any Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein. Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office of each of the Reporting Persons is 155 East 44th St, Suite 1630, New York, NY 10017. Item 2(c). CITIZENSHIP: Rubric Capital is a Delaware limited partnership. Mr. Rosen is a citizen of the United States of America. Item 2(d). TITLE OF CLASS OF SECURITIES: Common stock, $0.001 par value per share (the " Common Stock "). Item 2(e). CUSIP NUMBER: 869367102 CUSIP No. 869367102 13G/A Page 5 of 7 Pages Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) Broker or dealer registered under Section 15 of the Act, (b) Bank as defined in Section 3(a)(6) of the Act, (c) Insurance Company as defined in Section 3(a)(19) of the Act, (d) Investment Company regist

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. DATED: February 12, 2024 RUBRIC CAPITAL MANAGEMENT LP By: /s/ Michael Nachmani Name: Michael Nachmani Title: Chief Operating Officer /s/ David Rosen DAVID ROSEN

View Full Filing

View this SC 13G/A filing on SEC EDGAR