Merck & Co. invests $9.04 billion in Sutro Biopharma

Merck & Co. Inc. has increased its stake in Sutro Biopharma, Inc., purchasing 272,351 shares valued at approximately $9.04 billion during the second quarter. This investment represents about 1.7% of Merck & Co. Inc.’s portfolio, making Sutro Biopharma its seventh-largest holding.

According to SEC disclosures, Merck & Co. Inc. owned approximately 1.64% of Sutro Biopharma at the end of the most recent quarter. Other institutional investors have also adjusted their positions in the company, including Velan Capital Investment Management LP, UBS Group AG, and AQR Capital Management LLC.