Short Interest in Sutro Biopharma, Inc. (NASDAQ:STRO) Drops By 27.8%

by · The Markets Daily

Sutro Biopharma, Inc. (NASDAQ:STRO – Get Free Report) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 404,777 shares, a drop of 27.8% from the December 15th total of 560,264 shares. Approximately 5.1% of the shares of the company are short sold. Based on an average trading volume of 108,736 shares, the days-to-cover ratio is presently 3.7 days. Based on an average trading volume of 108,736 shares, the days-to-cover ratio is presently 3.7 days. Approximately 5.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in STRO. CWM LLC increased its stake in Sutro Biopharma by 73.2% in the second quarter. CWM LLC now owns 56,657 shares of the company’s stock valued at $40,000 after purchasing an additional 23,941 shares in the last quarter. Bridgeway Capital Management LLC increased its position in Sutro Biopharma by 232.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after buying an additional 30,000 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in Sutro Biopharma during the 2nd quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Sutro Biopharma by 174.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 60,617 shares of the company’s stock worth $43,000 after acquiring an additional 38,561 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Sutro Biopharma by 51.3% in the third quarter. Bank of America Corp DE now owns 119,434 shares of the company’s stock valued at $104,000 after acquiring an additional 40,488 shares during the period. 96.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on STRO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. HC Wainwright increased their price target on Sutro Biopharma to $10.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Wedbush restated a “neutral” rating and set a $100.00 price objective (up previously from $20.00) on shares of Sutro Biopharma in a research note on Tuesday, December 2nd. Wall Street Zen cut Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sutro Biopharma in a report on Wednesday, December 17th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.60.

Get Our Latest Research Report on Sutro Biopharma

Sutro Biopharma Trading Up 5.7%

NASDAQ STRO traded up $0.75 during trading on Monday, hitting $13.82. 98,619 shares of the company’s stock were exchanged, compared to its average volume of 114,835. The company has a market cap of $117.61 million, a PE ratio of -0.53 and a beta of 1.52. Sutro Biopharma has a fifty-two week low of $5.23 and a fifty-two week high of $21.50. The stock’s 50 day moving average price is $9.91 and its two-hundred day moving average price is $9.26.

Sutro Biopharma (NASDAQ:STRO – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.25). The company had revenue of $9.69 million for the quarter, compared to analyst estimates of $10.14 million. Sutro Biopharma had a negative return on equity of 852.70% and a negative net margin of 206.77%. Analysts forecast that Sutro Biopharma will post -2.92 earnings per share for the current fiscal year.

Sutro Biopharma Company Profile

(Get Free Report)

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.

Featured Articles