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

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,790,000 shares, a drop of 25.4% from the October 31st total of 2,400,000 shares. Based on an average trading volume of 647,400 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Investors Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Sutro Biopharma by 24.8% during the 1st 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 last quarter. ProShare Advisors LLC lifted its position in Sutro Biopharma by 49.1% during the second quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $48,000 after purchasing an additional 5,373 shares during the last quarter. Hsbc Holdings PLC grew its stake in Sutro Biopharma by 9.7% in the 2nd quarter. Hsbc Holdings PLC now owns 60,858 shares of the company’s stock worth $173,000 after buying an additional 5,404 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Sutro Biopharma by 27.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,943 shares of the company’s stock worth $97,000 after buying an additional 7,082 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new position in Sutro Biopharma in the third quarter worth $28,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Performance

NASDAQ STRO traded down $0.02 during trading hours on Friday, hitting $2.67. The company had a trading volume of 308,878 shares, compared to its average volume of 814,645. Sutro Biopharma has a 52 week low of $2.45 and a 52 week high of $6.13. The firm has a market capitalization of $220.17 million, a price-to-earnings ratio of -1.67 and a beta of 1.17. The firm has a 50 day simple moving average of $3.46 and a 200 day simple moving average of $3.75.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $11.00 price objective on shares of Sutro Biopharma in a research report on Friday, October 11th. Truist Financial cut their price target on shares of Sutro Biopharma from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Sutro Biopharma in a research report on Monday, November 18th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $17.00 price objective on shares of Sutro Biopharma in a research report on Monday, September 16th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Sutro Biopharma presently has an average rating of “Buy” and an average price target of $12.14.

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.