Sutro Biopharma, Inc. (NASDAQ:STRO) Sees Significant Growth in Short Interest

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a large increase in short interest during 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 daily volume of 925,500 shares, the short-interest ratio is presently 3.4 days.

Sutro Biopharma Stock Performance

Shares of NASDAQ STRO traded up $0.16 during trading hours on Friday, hitting $2.01. The company’s stock had a trading volume of 1,309,170 shares, compared to its average volume of 960,843. The business has a 50-day simple moving average of $2.38 and a 200-day simple moving average of $3.33. The stock has a market cap of $165.74 million, a price-to-earnings ratio of -1.25 and a beta of 1.15. Sutro Biopharma has a 12 month low of $1.67 and a 12 month high of $6.13.

Institutional Trading of Sutro Biopharma

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

Wall Street Analyst Weigh In

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

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.