Sutro Biopharma, Inc. (NASDAQ:STRO) Short Interest Update

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,150,000 shares, an increase of 28.0% from the December 15th total of 2,460,000 shares. Based on an average trading volume of 925,500 shares, the days-to-cover ratio is presently 3.4 days.

Sutro Biopharma Trading Up 1.1 %

Shares of STRO stock traded up $0.02 during trading hours on Thursday, reaching $1.85. 872,221 shares of the company’s stock were exchanged, compared to its average volume of 850,582. Sutro Biopharma has a fifty-two week low of $1.67 and a fifty-two week high of $6.13. The stock’s 50 day moving average is $2.47 and its 200-day moving average is $3.35. The company has a market cap of $152.55 million, a price-to-earnings ratio of -1.15 and a beta of 1.15.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new stake in Sutro Biopharma in the third quarter worth about $28,000. ProShare Advisors LLC increased its stake in Sutro Biopharma by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares in the last quarter. Virtu Financial LLC purchased a new position in Sutro Biopharma in the 3rd quarter worth $77,000. Intech Investment Management LLC acquired a new stake in Sutro Biopharma during the 3rd quarter worth about $91,000. Finally, The Manufacturers Life Insurance Company grew its stake in Sutro Biopharma by 27.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock valued at $97,000 after purchasing an additional 7,082 shares during the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research note on Monday, November 18th. Piper Sandler reiterated an “overweight” rating and set a $11.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. JMP Securities restated a “market outperform” rating and issued a $17.00 target price on shares of Sutro Biopharma in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.13.

Sutro Biopharma Company Profile

Sutro Biopharma, Inc operates as a clinical-stage oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF and XpressCF+. Its product candidates include STRO-002, an ADC directed against folate receptor-alpha, which is in Phase II/III clinical trials for patients with ovarian and endometrial cancers; VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease; and MK-1484, a distinct cytokine derivative molecule that is in Phase I clinical study for the treatment of cancer.