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

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) was the recipient of a significant 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 currently 3.4 days.

Sutro Biopharma Price Performance

Shares of NASDAQ STRO traded up $0.02 during mid-day trading on Thursday, hitting $1.85. 872,221 shares of the company's stock traded hands, compared to its average volume of 850,582. Sutro Biopharma has a 1 year low of $1.67 and a 1 year high of $6.13. The company's 50-day moving average is $2.47 and its two-hundred day moving average is $3.35. The company has a market capitalization of $152.55 million, a P/E ratio of -1.15 and a beta of 1.15.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP bought a new stake in Sutro Biopharma in the third quarter worth $28,000. ProShare Advisors LLC lifted its holdings in shares of Sutro Biopharma by 49.1% in the 2nd quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock worth $48,000 after acquiring an additional 5,373 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Sutro Biopharma during the 3rd quarter worth about $77,000. Intech Investment Management LLC purchased a new position in shares of Sutro Biopharma during the 3rd quarter worth about $91,000. Finally, The Manufacturers Life Insurance Company raised its position in Sutro Biopharma by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company's stock worth $97,000 after purchasing an additional 7,082 shares during the period. Hedge funds and other institutional investors own 96.99% of the company's stock.

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.

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