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

Sutro Biopharma, Inc. (NASDAQ:STRO) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 751,365 shares, a decline of 37.0% from the May 14th total of 1,193,156 shares. Based on an average trading volume of 434,201 shares, the days-to-cover ratio is currently 1.7 days. Currently, 4.8% of the shares of the company are sold short.

Institutional Investors Weigh In On Sutro Biopharma

Several large investors have recently modified their holdings of the stock. Perceptive Advisors LLC bought a new stake in shares of Sutro Biopharma during the 1st quarter worth $17,818,000. Bank of America Corp DE boosted its stake in shares of Sutro Biopharma by 348.1% during the 1st quarter. Bank of America Corp DE now owns 18,873 shares of the company’s stock worth $470,000 after acquiring an additional 14,661 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of Sutro Biopharma during the 1st quarter worth $580,000. ADAR1 Capital Management LLC boosted its stake in shares of Sutro Biopharma by 681.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 524,441 shares of the company’s stock worth $13,064,000 after acquiring an additional 457,364 shares in the last quarter. Finally, Orbimed Advisors LLC bought a new stake in shares of Sutro Biopharma during the 1st quarter worth $19,956,000. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Price Performance

NASDAQ STRO opened at $28.80 on Monday. Sutro Biopharma has a 12 month low of $6.74 and a 12 month high of $43.85. The firm has a market capitalization of $477.22 million, a PE ratio of -2.61 and a beta of 1.54. The company’s 50 day simple moving average is $31.00 and its 200 day simple moving average is $20.97.

Sutro Biopharma (NASDAQ:STRO) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.74) by ($0.20). The business had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $8.89 million. Sell-side analysts anticipate that Sutro Biopharma will post -9.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on STRO. Wells Fargo & Company upgraded Sutro Biopharma from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $27.00 in a report on Tuesday, March 24th. Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a report on Friday, April 17th. Wall Street Zen downgraded Sutro Biopharma from a “hold” rating to a “sell” rating in a report on Sunday. Truist Financial began coverage on Sutro Biopharma in a report on Thursday. They issued a “buy” rating and a $50.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Sutro Biopharma from $51.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.20.

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.