Sutro Biopharma Inc (NASDAQ:STRO) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 254,800 shares, an increase of 5.9% from the July 31st total of 240,500 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average daily trading volume, of 48,700 shares, the short-interest ratio is currently 5.2 days.
STRO has been the subject of several research analyst reports. ValuEngine upgraded Sutro Biopharma from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Sutro Biopharma in a research note on Thursday, September 5th. Zacks Investment Research cut Sutro Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. HC Wainwright set a $18.00 price objective on Sutro Biopharma and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Deutsche Bank assumed coverage on Sutro Biopharma in a research note on Thursday, July 18th. They issued a “buy” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.00.
Sutro Biopharma stock traded up $0.34 during midday trading on Tuesday, reaching $9.27. The company’s stock had a trading volume of 25,737 shares, compared to its average volume of 39,934. Sutro Biopharma has a fifty-two week low of $7.69 and a fifty-two week high of $14.99. The business has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $10.51. The company has a market cap of $212.54 million and a P/E ratio of -1.51.
Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.05). The company had revenue of $10.53 million during the quarter, compared to analysts’ expectations of $8.38 million. As a group, equities research analysts forecast that Sutro Biopharma will post -2.51 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in Sutro Biopharma in the 2nd quarter valued at approximately $3,669,000. Vanguard Group Inc. boosted its holdings in Sutro Biopharma by 10.5% in the 2nd quarter. Vanguard Group Inc. now owns 195,254 shares of the company’s stock valued at $2,222,000 after purchasing an additional 18,482 shares in the last quarter. BlackRock Inc. boosted its holdings in Sutro Biopharma by 72.4% in the 2nd quarter. BlackRock Inc. now owns 544,148 shares of the company’s stock valued at $6,193,000 after purchasing an additional 228,480 shares in the last quarter. Northern Trust Corp lifted its position in shares of Sutro Biopharma by 6.6% during the 2nd quarter. Northern Trust Corp now owns 79,777 shares of the company’s stock valued at $907,000 after acquiring an additional 4,910 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Sutro Biopharma by 104.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 30,472 shares of the company’s stock valued at $347,000 after acquiring an additional 15,591 shares during the period. 51.56% of the stock is currently owned by institutional investors.
Sutro Biopharma Company Profile
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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