Sutro Biopharma, Inc. (NASDAQ:STRO) Sees Large Increase in Short Interest

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

Sutro Biopharma Trading Down 0.1 %

Shares of STRO stock traded down $0.00 during mid-day trading on Friday, reaching $1.85. The stock had a trading volume of 218,117 shares, compared to its average volume of 788,503. The firm has a market capitalization of $152.47 million, a PE ratio of -1.16 and a beta of 1.15. The stock’s 50-day moving average price is $2.42 and its two-hundred day moving average price is $3.34. Sutro Biopharma has a 52-week low of $1.67 and a 52-week high of $6.13.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STRO. Piper Sandler restated an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a research report on Friday, October 11th. Wedbush restated an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a report on Tuesday, December 10th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Sutro Biopharma in a report on Monday, November 18th. JMP Securities reissued a “market outperform” rating and issued a $17.00 price target on shares of Sutro Biopharma in a research note on Wednesday, December 11th. Finally, 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 research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Sutro Biopharma has an average rating of “Moderate Buy” and a consensus target price of $11.13.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STRO. Point72 Asset Management L.P. lifted its holdings in Sutro Biopharma by 1,606.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock worth $13,032,000 after buying an additional 4,186,938 shares during the period. Geode Capital Management LLC lifted its stake in Sutro Biopharma by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock worth $6,426,000 after acquiring an additional 132,015 shares during the period. State Street Corp boosted its holdings in Sutro Biopharma by 5.2% in the third quarter. State Street Corp now owns 1,647,162 shares of the company’s stock valued at $5,699,000 after acquiring an additional 81,855 shares in the last quarter. Bank of Montreal Can purchased a new position in Sutro Biopharma during the 3rd quarter valued at $2,852,000. Finally, Renaissance Technologies LLC increased its position in Sutro Biopharma by 48.1% during the 2nd quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock valued at $2,108,000 after purchasing an additional 233,700 shares during the period. Hedge funds and other institutional investors own 96.99% of the company’s stock.

About Sutro Biopharma

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.