Sutro Biopharma, Inc. (NASDAQ:STRO) Short Interest Up 20.1% in March

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 639,714 shares, a growth of 20.1% from the March 15th total of 532,614 shares. Based on an average daily volume of 228,901 shares, the days-to-cover ratio is currently 2.8 days. Approximately 4.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

STRO has been the topic of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research note on Monday, December 22nd. Leerink Partners initiated coverage on shares of Sutro Biopharma in a research note on Tuesday, April 7th. They set an “outperform” rating and a $38.00 target price on the stock. Wall Street Zen upgraded shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 25th. Finally, Truist Financial upgraded shares of Sutro Biopharma to a “strong-buy” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.88.

Institutional Investors Weigh In On Sutro Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Bridgeway Capital Management LLC grew its holdings in shares of Sutro Biopharma by 232.6% in the third quarter. Bridgeway Capital Management LLC now owns 42,900 shares of the company’s stock valued at $37,000 after purchasing an additional 30,000 shares in the last quarter. Invesco Ltd. increased its position in Sutro Biopharma by 137.8% in the first quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock worth $60,000 after purchasing an additional 53,390 shares during the last quarter. Cerity Partners LLC increased its position in Sutro Biopharma by 169.9% in the second quarter. Cerity Partners LLC now owns 105,437 shares of the company’s stock worth $75,000 after purchasing an additional 66,372 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Sutro Biopharma in the second quarter worth $82,000. Finally, State of Tennessee Department of Treasury bought a new stake in Sutro Biopharma in the fourth quarter worth $86,000. 96.99% of the stock is owned by hedge funds and other institutional investors.

Sutro Biopharma Trading Up 8.6%

NASDAQ STRO traded up $2.53 on Friday, reaching $31.88. 154,749 shares of the stock were exchanged, compared to its average volume of 170,831. Sutro Biopharma has a one year low of $5.33 and a one year high of $32.58. The company’s 50-day simple moving average is $22.09 and its two-hundred day simple moving average is $14.61. The firm has a market capitalization of $528.07 million, a PE ratio of -1.23 and a beta of 1.31.

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.