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Sutro Biopharma, Inc. shares are reported as 852,669 common shares beneficially owned by Coastlands Capital LP, Coastlands Capital Partners LP, Coastlands Capital GP LLC, Coastlands Capital LLC and Matthew D. Perry, representing 5.14% of the class. Each reports shared voting and dispositive power over that same position; the reporting persons say they filed jointly, but not as a group.
Each reporting person disclaims beneficial ownership except to the extent of its pecuniary interest, and the Partnership says its filing is not an admission that it is a beneficial owner. Coastlands Capital Partners LP holds the shares for its investors. Coastlands Capital LP and Coastlands Capital GP LLC are its investment adviser and general partner, respectively; Coastlands Capital LLC is Coastlands Capital LP’s general partner, and Matthew D. Perry is the control person.
Key Figures
Reported beneficial ownership:852,669 common sharesPercent of class:5.14%Shares outstanding:16,581,171 shares
3 metrics
Reported beneficial ownership852,669 common sharesThe same position is reported by each of the five reporting persons and is held directly by Coastlands Capital Partners LP.
Percent of class5.14%Reported by each of the five reporting persons.
Shares outstanding16,581,171 sharesAs of August 7, 2026; used to calculate the reported ownership percentage.
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
shared voting powerregulatory
"Shared Voting Power 852,669.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerregulatory
"Shared Dispositive Power 852,669.00"
pecuniary interestregulatory
"except to the extent of that person's pecuniary interest therein"
Rule 13d-3regulatory
"beneficial owner, as defined in Rule 13d-3"
Rule 13d-3 defines who is treated as the beneficial owner of a company’s shares for U.S. securities disclosure rules — essentially anyone who has the power to vote or direct how shares are voted, or the power to buy or sell them, even if they don’t hold the certificates. For investors this matters because crossing certain ownership thresholds triggers public filing and disclosure obligations and signals potential control or influence, much like having the keys to a car implies you can drive it even if it’s registered to someone else.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many STRO shares did the Coastlands reporting persons report?
Coastlands Capital LP, Coastlands Capital Partners LP, Coastlands Capital GP LLC, Coastlands Capital LLC and Matthew D. Perry each report 852,669 common shares, equal to 5.14% of the class. Each also disclaims beneficial ownership except to the extent of its pecuniary interest.
What share count was used to calculate Coastlands’ 5.14% STRO stake?
The calculation uses 16,581,171 Sutro common shares outstanding as of August 7, 2026. Sutro disclosed that count in its Form 10-Q filed August 12, 2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Sutro Biopharma, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
869367201
(CUSIP Number)
11/05/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
869367201
1
Names of Reporting Persons
Coastlands Capital LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
852,669.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
852,669.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
852,669.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.14 %
12
Type of Reporting Person (See Instructions)
IA, PN
Comment for Type of Reporting Person: Consists of 852,669 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 16,581,171 shares of Common Stock outstanding as of August 7, 2026, as disclosed in the Quarterly Report on Form 10-Q filed by the Issuer on August 12, 2026.
SCHEDULE 13G
CUSIP Number(s):
869367201
1
Names of Reporting Persons
Coastlands Capital Partners LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
852,669.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
852,669.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
852,669.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.14 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: Consists of 852,669 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 16,581,171 shares of Common Stock outstanding as of August 7, 2026, as disclosed in the Quarterly Report on Form 10-Q filed by the Issuer on August 12, 2026.
SCHEDULE 13G
CUSIP Number(s):
869367201
1
Names of Reporting Persons
Coastlands Capital GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
852,669.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
852,669.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
852,669.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.14 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Consists of 852,669 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 16,581,171 shares of Common Stock outstanding as of August 7, 2026, as disclosed in the Quarterly Report on Form 10-Q filed by the Issuer on August 12, 2026.
SCHEDULE 13G
CUSIP Number(s):
869367201
1
Names of Reporting Persons
Coastlands Capital LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
852,669.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
852,669.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
852,669.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.14 %
12
Type of Reporting Person (See Instructions)
HC, OO
Comment for Type of Reporting Person: Consists of 852,669 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 16,581,171 shares of Common Stock outstanding as of August 7, 2026, as disclosed in the Quarterly Report on Form 10-Q filed by the Issuer on August 12, 2026.
SCHEDULE 13G
CUSIP Number(s):
869367201
1
Names of Reporting Persons
Matthew D. Perry
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
852,669.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
852,669.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
852,669.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.14 %
12
Type of Reporting Person (See Instructions)
HC, IN
Comment for Type of Reporting Person: Consists of 852,669 shares of Common Stock held directly by Coastlands Capital Partners LP. The calculation of the beneficial ownership of the Reporting Persons is based on 16,581,171 shares of Common Stock outstanding as of August 7, 2026, as disclosed in the Quarterly Report on Form 10-Q filed by the Issuer on August 12, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Sutro Biopharma, Inc.
(b)
Address of issuer's principal executive offices:
111 Oyster Point Blvd, South San Francisco, CA, 94080
Item 2.
(a)
Name of person filing:
Coastlands Capital LP, a Delaware limited partnership ("Coastlands")
Coastlands Capital Partners LP, a Delaware limited partnership (the "Partnership")
Coastlands Capital GP LLC, a Delaware limited liability company (the "General Partner")
Coastlands Capital LLC, a Delaware limited liability company ("Coastlands GP")
Matthew D. Perry
Coastlands and the General Partner are the investment adviser and general partner, respectively, of the Partnership. Coastlands GP is the general partner of Coastlands. Mr. Perry is the control person of Coastlands, the Partnership, Coastlands GP and the General Partner. The reporting persons are filing this Schedule 13G jointly, but not as members of a group, and each disclaims membership in a group. Each reporting person also disclaims beneficial ownership of shares of Common Stock except to the extent of that person's pecuniary interest therein. In addition, the filing of this Schedule 13G on behalf of the Partnership should not be construed as an admission that it is, and it disclaims that it is, a beneficial owner, as defined in Rule 13d-3 under the Act, of any shares of Common Stock covered by this Schedule 13G.
(b)
Address or principal business office or, if none, residence:
601 California Street, Suite 1210, San Francisco, CA 94108
(c)
Citizenship:
See Item 4 of the cover sheet for each reporting person.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP Number(s):
869367201
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
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)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Coastlands: 852,669
Partnership: 852,669
General Partner: 852,669
Coastlands GP: 852,669
Matthew D. Perry: 852,669
(b)
Percent of class:
Coastlands: 5.14%
Partnership: 5.14%
General Partner: 5.14%
Coastlands GP: 5.14%
Matthew D. Perry: 5.14%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Coastlands: 0
Partnership: 0
General Partner: 0
Coastlands GP: 0
Matthew D. Perry: 0
(ii) Shared power to vote or to direct the vote:
Coastlands: 852,669
Partnership: 852,669
General Partner: 852,669
Coastlands GP: 852,669
Matthew D. Perry: 852,669
(iii) Sole power to dispose or to direct the disposition of:
Coastlands: 0
Partnership: 0
General Partner: 0
Coastlands GP: 0
Matthew D. Perry: 0
(iv) Shared power to dispose or to direct the disposition of:
Coastlands: 852,669
Partnership: 852,669
General Partner: 852,669
Coastlands GP: 852,669
Matthew D. Perry: 852,669
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Partnership holds the shares of Common Stock for the benefit of its investors and has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, shares of Common Stock.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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, other than activities solely in connection with a nomination under § 240.14a-11.
By signing below I certify that, to the best of my 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, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Coastlands Capital LP
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer of the General Partner, Coastlands Capital LLC
Date:
11/09/2026
Coastlands Capital Partners LP
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer of the General Partner, Coastlands Capital GP LLC
Date:
11/09/2026
Coastlands Capital GP LLC
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer
Date:
11/09/2026
Coastlands Capital LLC
Signature:
/s/ Mark Shamia
Name/Title:
Chief Operating Officer
Date:
11/09/2026
Matthew D. Perry
Signature:
/s/ Matthew D. Perry
Name/Title:
Reporting Person
Date:
11/09/2026
Exhibit Information
Exhibit 99.1 - Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G
