Short Interest in Sutro Biopharma, Inc. (NASDAQ:STRO) Rises By 20.1%
by Amy Steele · The Cerbat GemSutro Biopharma, Inc. (NASDAQ:STRO – Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 639,714 shares, an increase of 20.1% from the March 15th total of 532,614 shares. Based on an average daily volume of 228,901 shares, the short-interest ratio is currently 2.8 days. Approximately 4.0% of the shares of the company are short sold.
Sutro Biopharma Price Performance
Sutro Biopharma stock opened at $31.55 on Friday. The firm has a 50 day simple moving average of $22.41 and a 200-day simple moving average of $14.77. The stock has a market capitalization of $522.78 million, a PE ratio of -1.21 and a beta of 1.31. Sutro Biopharma has a 12-month low of $5.33 and a 12-month high of $32.58.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in STRO. Invesco Ltd. boosted its holdings in shares of Sutro Biopharma by 137.8% in the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after acquiring an additional 53,390 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock valued at $859,000 after acquiring an additional 1,206,330 shares in the last quarter. Strs Ohio bought a new position in shares of Sutro Biopharma in the first quarter valued at approximately $99,000. Marshall Wace LLP bought a new position in shares of Sutro Biopharma in the second quarter valued at approximately $166,000. Finally, Cerity Partners LLC boosted its holdings in shares of Sutro Biopharma by 169.9% in the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock valued at $75,000 after acquiring an additional 66,372 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Leerink Partners assumed coverage on shares of Sutro Biopharma in a research report on Tuesday, April 7th. They issued an “outperform” rating and a $38.00 target price for the company. Wells Fargo & Company upgraded shares of Sutro Biopharma from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $27.00 in a research report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Sutro Biopharma from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. Finally, Citigroup restated an “outperform” rating on shares of Sutro Biopharma in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.88.
Sutro Biopharma Company Profile
Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.
Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.