Millennium Affiliate Discloses New Passive Stake in Sutro Biopharma

TL;DR

**Millennium's Integrated Core Strategies just revealed a new passive stake in Sutro Biopharma, signaling institutional interest.**

AI Summary

Integrated Core Strategies (US) LLC, a part of Millennium Management LLC, reported a new passive stake in Sutro Biopharma, Inc. (NASDAQ: STRO) as of January 10, 2024. This filing indicates that Integrated Core Strategies (US) LLC now holds a significant, though not controlling, position in Sutro Biopharma's common stock. This matters to investors because it signals that a large, sophisticated hedge fund sees value in Sutro Biopharma, potentially indicating future positive sentiment or increased institutional interest in the stock.

Why It Matters

A major institutional investor, Integrated Core Strategies (US) LLC, has taken a position in Sutro Biopharma, which could be seen as a vote of confidence and potentially attract other investors.

Risk Assessment

Risk Level: low — This filing indicates a passive stake, meaning the investor isn't seeking control, which generally poses low risk to existing shareholders.

Analyst Insight

A smart investor would monitor Sutro Biopharma (STRO) for potential increased trading volume and positive sentiment following this disclosure, considering it a signal of institutional validation.

Key Numbers

• 869367102 — CUSIP Number (identifies Sutro Biopharma's common stock)
• January 10, 2024 — Date of Event (the date requiring the filing of this statement)

Key Players & Entities

• Integrated Core Strategies (US) LLC (company) — reporting person and affiliate of Millennium Management LLC
• Sutro Biopharma, Inc. (company) — subject company whose common stock was acquired
• Millennium Group Management LLC (company) — group member associated with the reporting person
• Millennium Management LLC (company) — group member associated with the reporting person
• Israel A. Englander (person) — group member associated with the reporting person
• $0.001 (dollar_amount) — par value per share of Sutro Biopharma common stock

Forward-Looking Statements

• Sutro Biopharma's stock price may experience a slight positive bump due to increased institutional interest. (Sutro Biopharma, Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might initiate or increase their positions in Sutro Biopharma. (Sutro Biopharma, Inc.) — low confidence, target: Q2 2024

FAQ

Key Financial Figures

• $0.001 — me of Issuer) COMMON STOCK, PAR VALUE $0.001 PER SHARE (Title of Class of Securiti

Filing Documents

• STRO_SC13G_2024.htm (SC 13G) — 92KB
• 0001319244-24-000003.txt ( ) — 94KB

If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is

Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) o Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) o Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) o Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); CUSIP No. 869367102 SCHEDULE 13G Page 7 of 11 (g) o A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) o Group, in accordance with 240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: See response to Item 9 on each cover page. (b) Percent of Class: See response to Item 11 on each cover page. (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote See response to Item 5 on each cover page. CUSIP No. 869367102 SCHEDULE 13G Page 8 of 11 (ii) Shared power to vote or to direct the vote See response to Item 6 on each cover page. (iii) Sole power to dispose or to direct the disposition of See response to Item 7 on each cover page. (iv) Shared power to dispose or to direct the disposition of See response to Item 8 on each cover page. The securities disclosed herein as potentially beneficially owned by Millennium Management LLC, Millennium Group Management LLC and Mr. Englander are held by entities subject to voting control and investment discretion by Millennium Management LLC and/or other investment managers that may be controlled by Millennium Group Management LLC (the managing member of Millennium Management LLC) and Mr. Englander (the sole voting trustee of the managing member of Millennium Group Management LLC). The foregoing should not be construed in and of itself as an admission by Millennium Management LLC, Millennium Group Management LLC or Mr. Englander as to beneficial ownership of the securities held by such entities.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o .

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable.

Identification and Classification of the Subsidiary Which Acquired

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable.

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group See Exhibit I.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable.

Certification

Item 10. Certification By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. CUSIP No. 869367102 SCHEDULE 13G Page 9 of 11 Exhibits: Exhibit I: Joint Filing Agreement, dated as of January 16, 2024, by and among Integrated Core Strategies (US) LLC, Millennium Management LLC, Millennium Group Management LLC and Israel A. Englander. CUSIP No. 869367102 SCHEDULE 13G Page 10 of 11 SIGNATURE After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct. Dated: January 16, 2024 INTEGRATED CORE STRATEGIES (US) LLC By: Integrated Holding Group LP, its Managing Member By: Millennium Management LLC, its General Partner By: /s/Gil Raviv Name: Gil Raviv Title: Global General Counsel MILLENNIUM MANAGEMENT LLC By: /s/Gil Raviv Name: Gil Raviv Title: Global General Counsel MILLENNIUM GROUP MANAGEMENT LLC By: /s/Gil Raviv Name: Gil Raviv Title: Global General Counsel /s/ Israel A. Englander Israel A. Englander CUSIP No. 869367102 SCHEDULE 13G Page 11 of 11 EXHIBIT I JOINT FILING AGREEMENT This will confirm the agreement by and among the undersigned that the Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the Common Stock, par value $0.001 per share, of Sutro Biopharma, Inc. will be filed on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as

View Full Filing

View this SC 13G filing on SEC EDGAR