Sutro Biopharma, Inc. (NASDAQ:STRO) Short Interest Up 19.4% in December

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,460,000 shares, an increase of 19.4% from the November 30th total of 2,060,000 shares. Based on an average daily volume of 900,500 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in Sutro Biopharma during the third quarter valued at $2,852,000. BNP Paribas Financial Markets raised its holdings in shares of Sutro Biopharma by 1,195.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,524 shares of the company's stock valued at $286,000 after acquiring an additional 76,152 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of Sutro Biopharma by 30.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company's stock valued at $4,613,000 after acquiring an additional 370,705 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sutro Biopharma during the third quarter worth about $1,512,000. Finally, AQR Capital Management LLC increased its position in shares of Sutro Biopharma by 691.5% in the second quarter. AQR Capital Management LLC now owns 283,516 shares of the company's stock worth $831,000 after purchasing an additional 247,694 shares during the last quarter. Institutional investors own 96.99% of the company's stock.

Sutro Biopharma Stock Performance

Sutro Biopharma stock traded down $0.08 during midday trading on Friday, reaching $1.89. 803,526 shares of the stock were exchanged, compared to its average volume of 866,191. Sutro Biopharma has a 52 week low of $1.70 and a 52 week high of $6.13. The firm has a market cap of $155.85 million, a PE ratio of -1.17 and a beta of 1.09. The company's fifty day moving average is $2.91 and its 200-day moving average is $3.47.

Wall Street Analyst Weigh In

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