Sutro Biopharma, Inc. (NASDAQ:STRO) Short Interest Up 28.0% in December

Sutro Biopharma, Inc. (NASDAQ:STRO) was the target of a significant 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 currently 3.4 days.

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently added to or reduced their stakes in STRO. Gladius Capital Management LP purchased a new stake in shares of Sutro Biopharma in the 3rd quarter valued at about $28,000. ProShare Advisors LLC raised its stake in Sutro Biopharma by 49.1% in the second 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 bought a new stake in Sutro Biopharma during the third quarter valued at approximately $77,000. Intech Investment Management LLC purchased a new position in Sutro Biopharma in the 3rd quarter worth approximately $91,000. Finally, The Manufacturers Life Insurance Company grew its stake 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 buying an additional 7,082 shares in the last quarter. Institutional investors own 96.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on STRO shares. JMP Securities restated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Wednesday, December 11th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Sutro Biopharma in a research note on Monday, November 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. Wedbush reissued an “outperform” rating and set a $8.00 target price on shares of Sutro Biopharma in a report on Tuesday, December 10th. Finally, Wells Fargo & Company dropped their target price on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock 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’s stock. Based on data from MarketBeat, Sutro Biopharma has an average rating of “Moderate Buy” and a consensus price target of $11.13.

Sutro Biopharma Price Performance

NASDAQ:STRO traded down $0.00 during trading hours on Friday, hitting $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 price-to-earnings ratio of -1.16 and a beta of 1.15. Sutro Biopharma has a one year low of $1.67 and a one year high of $6.13. The company has a 50 day simple moving average of $2.42 and a two-hundred day simple moving average of $3.34.

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.