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

Sutro Biopharma, Inc. (NASDAQ:STRO) was the target of a large increase in short interest in the month of 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 presently 2.7 days.

Institutional Trading of Sutro Biopharma

Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Sutro Biopharma in the 3rd quarter valued at approximately $77,000. Barclays PLC increased its holdings in Sutro Biopharma by 385.3% in the third quarter. Barclays PLC now owns 273,019 shares of the company’s stock valued at $944,000 after buying an additional 216,757 shares during the last quarter. Geode Capital Management LLC raised its stake in Sutro Biopharma by 7.7% in 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 in the last quarter. XTX Topco Ltd lifted its holdings in Sutro Biopharma by 222.0% during the 3rd quarter. XTX Topco Ltd now owns 104,200 shares of the company’s stock worth $361,000 after buying an additional 71,844 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Sutro Biopharma by 30.7% during the 3rd quarter. Jane Street Group LLC now owns 108,192 shares of the company’s stock worth $374,000 after acquiring an additional 25,416 shares in the last quarter. Institutional investors and hedge funds own 96.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on STRO shares. Wedbush restated an “outperform” rating and issued a $8.00 price objective on shares of Sutro Biopharma in a report on Tuesday, December 10th. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a report on Monday, November 18th. Wells Fargo & Company cut their target price on Sutro Biopharma from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. JMP Securities restated a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a research report on Wednesday, December 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a report on Friday, October 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.13.

Sutro Biopharma Trading Down 2.1 %

NASDAQ:STRO opened at $1.85 on Tuesday. The stock has a fifty day moving average price of $2.88 and a 200 day moving average price of $3.45. Sutro Biopharma has a 12-month low of $1.70 and a 12-month high of $6.13. The firm has a market cap of $152.55 million, a PE ratio of -1.15 and a beta of 1.09.

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.