Short Interest in Sutro Biopharma, Inc. (NASDAQ:STRO) Expands By 19.4%

Sutro Biopharma, Inc. (NASDAQ:STRO) saw 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 trading volume of 900,500 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Investors Weigh In On Sutro Biopharma

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its position in shares of Sutro Biopharma by 1,606.1% in the second quarter. Point72 Asset Management L.P. now owns 4,447,634 shares of the company’s stock valued at $13,032,000 after acquiring an additional 4,186,938 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 132,015 shares during the last quarter. State Street Corp increased its holdings in shares of Sutro Biopharma by 5.2% in the third quarter. State Street Corp now owns 1,647,162 shares of the company’s stock worth $5,699,000 after purchasing an additional 81,855 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Sutro Biopharma by 30.8% in the second quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after buying an additional 370,705 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Sutro Biopharma by 15.6% during the second quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock valued at $2,659,000 after buying an additional 122,299 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Performance

Shares of NASDAQ STRO traded down $0.08 during midday trading on Friday, reaching $1.89. The stock had a trading volume of 803,526 shares, compared to its average volume of 866,191. The company has a market capitalization of $155.85 million, a price-to-earnings ratio of -1.17 and a beta of 1.09. Sutro Biopharma has a 12-month low of $1.70 and a 12-month high of $6.13. The stock has a 50-day moving average of $2.91 and a 200-day moving average of $3.47.

Analysts Set New Price Targets

STRO has been the topic of several research reports. 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. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a report on Monday, November 18th. Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Sutro Biopharma in a report on Tuesday, December 10th. JMP Securities reiterated a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a research note 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 note on Friday, October 11th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.