Sutro Biopharma, Inc. (NASDAQ:STRO) Sees Significant Drop in Short Interest

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

Hedge Funds Weigh In On Sutro Biopharma

Several large investors have recently modified their holdings of the stock. Invesco Ltd. grew its position in Sutro Biopharma by 137.8% during the 1st quarter. Invesco Ltd. now owns 92,139 shares of the company’s stock valued at $60,000 after purchasing an additional 53,390 shares during the last quarter. AQR Capital Management LLC raised its holdings in Sutro Biopharma by 1,052.8% in the first quarter. AQR Capital Management LLC now owns 1,320,917 shares of the company’s stock worth $859,000 after buying an additional 1,206,330 shares during the last quarter. Strs Ohio bought a new position in shares of Sutro Biopharma in the first quarter worth approximately $99,000. Savant Capital LLC bought a new position in shares of Sutro Biopharma in the second quarter worth approximately $37,000. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in shares of Sutro Biopharma during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Trading Up 1.8%

Shares of NASDAQ:STRO opened at $23.49 on Tuesday. The stock has a fifty day simple moving average of $17.15 and a two-hundred day simple moving average of $12.16. Sutro Biopharma has a 12-month low of $5.23 and a 12-month high of $26.54. The stock has a market capitalization of $199.90 million, a price-to-earnings ratio of -0.90 and a beta of 1.47.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STRO. HC Wainwright raised their target price on Sutro Biopharma to $10.00 and gave the company a “neutral” rating in a research note on Monday, December 22nd. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price target (up from $20.00) on shares of Sutro Biopharma in a research note 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 for the company in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sutro Biopharma in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Sutro Biopharma has an average rating of “Hold” and an average price target of $31.83.

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.