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

Sutro Biopharma, Inc. (NASDAQ:STRO) was the target of a large decrease in short interest in the month of 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 daily trading volume, of 647,400 shares, the short-interest ratio is presently 2.8 days.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in STRO. Point72 Asset Management L.P. lifted its position in Sutro Biopharma by 1,606.1% during the 2nd 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 during the period. Vanguard Group Inc. increased its position in Sutro Biopharma by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,022,790 shares of the company’s stock valued at $17,079,000 after buying an additional 132,790 shares in the last quarter. Geode Capital Management LLC raised its stake in Sutro Biopharma by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,856,956 shares of the company’s stock valued at $6,426,000 after buying an additional 132,015 shares during the last quarter. State Street Corp grew its stake 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 acquiring an additional 81,855 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Sutro Biopharma by 30.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,574,958 shares of the company’s stock worth $4,613,000 after purchasing an additional 370,705 shares during the last quarter. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Wall Street Analysts Forecast Growth

STRO has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a research note on Monday, November 18th. Truist Financial dropped their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Finally, Piper Sandler restated an “overweight” rating and set a $11.00 target price on shares of Sutro Biopharma in a report on Friday, October 11th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sutro Biopharma has a consensus rating of “Buy” and a consensus target price of $12.14.

Sutro Biopharma Stock Performance

Shares of STRO traded down $0.02 on Friday, reaching $2.67. The stock had a trading volume of 308,878 shares, compared to its average volume of 814,645. Sutro Biopharma has a 12-month low of $2.45 and a 12-month high of $6.13. The firm has a market capitalization of $220.17 million, a price-to-earnings ratio of -1.67 and a beta of 1.17. The company has a 50-day simple moving average of $3.46 and a 200-day simple moving average of $3.75.

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.