Short Interest in Sutro Biopharma, Inc. (NASDAQ:STRO) Drops By 25.4%

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.

Analyst Ratings Changes

STRO has been the topic of several recent research reports. 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. Piper Sandler reissued an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a research note on Friday, October 11th. Truist Financial lowered their price objective on Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating for the company in a research note 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sutro Biopharma has a consensus rating of “Buy” and an average price target of $12.14.

Sutro Biopharma Stock Performance

NASDAQ:STRO traded down $0.04 during trading hours on Friday, reaching $2.65. The stock had a trading volume of 723,064 shares, compared to its average volume of 852,385. The stock has a 50 day simple moving average of $3.44 and a 200 day simple moving average of $3.73. Sutro Biopharma has a 12-month low of $2.45 and a 12-month high of $6.13. The stock has a market cap of $218.52 million, a P/E ratio of -1.65 and a beta of 1.17.

Institutional Trading of Sutro Biopharma

Large investors have recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in Sutro Biopharma in the third quarter worth $28,000. ProShare Advisors LLC increased its position in Sutro Biopharma by 49.1% in the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $48,000 after buying an additional 5,373 shares during the last quarter. Virtu Financial LLC purchased a new stake in Sutro Biopharma in the third quarter worth $77,000. Intech Investment Management LLC bought a new position in shares of Sutro Biopharma in the third quarter worth $91,000. Finally, Lazard Asset Management LLC bought a new position in shares of Sutro Biopharma in the first quarter worth $92,000. 96.99% of the stock is owned by hedge funds and other institutional investors.

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.