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

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a significant increase in short interest in 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 currently 2.7 days.

Sutro Biopharma Trading Down 4.1 %

Shares of STRO traded down $0.08 during trading hours on Friday, hitting $1.89. The company 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 PE ratio of -1.17 and a beta of 1.09. Sutro Biopharma has a one year low of $1.70 and a one year high of $6.13. The company’s fifty day moving average price is $2.91 and its two-hundred day moving average price is $3.47.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JMP Securities reissued 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 reaffirmed a “buy” rating and issued a $12.00 price target on shares of Sutro Biopharma in a report on Monday, November 18th. Wells Fargo & Company reduced 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. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a research note on Tuesday, December 10th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $11.00 target price on shares of Sutro Biopharma in a report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.13.

Institutional Trading of Sutro Biopharma

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Sutro Biopharma by 47.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 272,719 shares of the company’s stock worth $799,000 after acquiring an additional 88,034 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Sutro Biopharma by 15.6% during the second quarter. Panagora Asset Management Inc. now owns 907,503 shares of the company’s stock worth $2,659,000 after purchasing an additional 122,299 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Sutro Biopharma by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 116,099 shares of the company’s stock valued at $340,000 after purchasing an additional 21,935 shares during the last quarter. Acadian Asset Management LLC grew its stake in Sutro Biopharma by 30.8% during the 2nd 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 during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Sutro Biopharma by 48.1% during the 2nd quarter. Renaissance Technologies LLC now owns 719,497 shares of the company’s stock worth $2,108,000 after buying an additional 233,700 shares during the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.

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.