Sutro Biopharma, Inc. (NASDAQ:STRO) Short Interest Update

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 2,290,000 shares, an increase of 20.5% from the May 31st total of 1,900,000 shares. Based on an average daily trading volume, of 978,300 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently added to or reduced their stakes in STRO. Nisa Investment Advisors LLC boosted its holdings in shares of Sutro Biopharma by 14,125.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,820 shares of the company’s stock worth $38,000 after purchasing an additional 8,758 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Sutro Biopharma during the fourth quarter worth $60,000. Lazard Asset Management LLC bought a new position in Sutro Biopharma during the first quarter valued at $92,000. Price T Rowe Associates Inc. MD raised its stake in shares of Sutro Biopharma by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,027 shares of the company’s stock valued at $102,000 after acquiring an additional 3,578 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Sutro Biopharma by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock worth $154,000 after acquiring an additional 9,092 shares during the last quarter. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Stock Performance

STRO stock opened at $3.05 on Tuesday. The firm has a market cap of $249.47 million, a PE ratio of -1.62 and a beta of 1.24. The firm has a fifty day moving average price of $3.78 and a 200 day moving average price of $4.17. Sutro Biopharma has a fifty-two week low of $2.01 and a fifty-two week high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.03). The business had revenue of $13.01 million during the quarter, compared to analysts’ expectations of $11.57 million. Sutro Biopharma had a negative return on equity of 94.18% and a negative net margin of 74.61%. On average, equities analysts predict that Sutro Biopharma will post -3.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JMP Securities reissued a “market outperform” rating and set a $17.00 price target on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Oppenheimer reissued an “outperform” rating and issued a $10.00 price target on shares of Sutro Biopharma in a report on Wednesday, May 15th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Sutro Biopharma in a report on Tuesday, May 14th. Piper Sandler reissued an “overweight” rating and issued a $11.00 target price (down previously from $12.00) on shares of Sutro Biopharma in a report on Wednesday, April 3rd. Finally, Truist Financial cut their target price on shares of Sutro Biopharma from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $12.50.

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.