Sutro Biopharma, Inc. (NASDAQ:STRO) Sees Large Decrease in Short Interest

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 517,388 shares, a drop of 19.8% from the February 12th total of 645,074 shares. Based on an average daily trading volume, of 100,424 shares, the days-to-cover ratio is currently 5.2 days. Approximately 6.5% of the company’s shares are sold short. Approximately 6.5% of the company’s shares are sold short. Based on an average daily trading volume, of 100,424 shares, the days-to-cover ratio is currently 5.2 days.

Sutro Biopharma Stock Down 5.6%

Shares of NASDAQ STRO traded down $1.37 during midday trading on Friday, reaching $23.08. 96,005 shares of the company’s stock traded hands, compared to its average volume of 138,228. The company has a market cap of $196.50 million, a price-to-earnings ratio of -0.88 and a beta of 1.47. The stock’s 50 day simple moving average is $16.89 and its 200-day simple moving average is $12.04. Sutro Biopharma has a one year low of $5.23 and a one year high of $26.54.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Catalyst Funds Management Pty Ltd bought a new stake in Sutro Biopharma during the second quarter valued at about $27,000. Savant Capital LLC purchased a new stake in shares of Sutro Biopharma during the second quarter valued at about $37,000. Bridgeway Capital Management LLC boosted its holdings in shares of 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. Invesco Ltd. grew its position in shares of Sutro Biopharma by 137.8% in the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after buying an additional 53,390 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Sutro Biopharma by 169.9% in the 2nd quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after buying an additional 66,372 shares during the last quarter. 96.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wedbush reaffirmed a “neutral” rating and set a $100.00 target price (up from $20.00) on shares of Sutro Biopharma in a research report on Tuesday, December 2nd. Citizens Jmp raised Sutro Biopharma from a “market perform” rating to a “market outperform” rating and set a $23.00 price objective on the stock in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sutro Biopharma in a report on Wednesday, December 17th. Finally, Citigroup raised Sutro Biopharma to an “outperform” rating in a research report on Tuesday, January 20th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.83.

About Sutro Biopharma

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.