Sutro Biopharma, Inc. (NASDAQ:STRO) Short Interest Update

Sutro Biopharma, Inc. (NASDAQ:STRO) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,790,000 shares, a decrease of 25.4% from the October 31st total of 2,400,000 shares. Based on an average trading volume of 647,400 shares, the short-interest ratio is currently 2.8 days.

Sutro Biopharma Stock Performance

Shares of Sutro Biopharma stock traded down $0.04 on Friday, hitting $2.65. The company had a trading volume of 723,064 shares, compared to its average volume of 816,586. The stock has a market capitalization of $218.52 million, a price-to-earnings ratio of -1.65 and a beta of 1.17. The stock has a 50 day moving average of $3.44 and a 200-day moving average of $3.73. Sutro Biopharma has a 1 year low of $2.45 and a 1 year high of $6.13.

Institutional Trading of Sutro Biopharma

Institutional investors and hedge funds have recently modified their holdings of the business. Gladius Capital Management LP purchased a new stake in shares of Sutro Biopharma during the third quarter valued at approximately $28,000. ProShare Advisors LLC increased its position in shares of Sutro Biopharma by 49.1% during the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after acquiring an additional 5,373 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Sutro Biopharma during the first quarter valued at approximately $92,000. Price T Rowe Associates Inc. MD increased its position in shares of Sutro Biopharma by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Sutro Biopharma during the third quarter valued at approximately $77,000. 96.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on STRO shares. Piper Sandler reiterated an “overweight” rating and issued a $11.00 price target on shares of Sutro Biopharma in a report on Friday, October 11th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Sutro Biopharma in a report on Monday, November 18th. Truist Financial cut their price target on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, JMP Securities reissued a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research note on Monday, September 16th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Sutro Biopharma has an average rating of “Buy” and a consensus target price of $12.14.

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.