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

Sutro Biopharma, Inc. (NASDAQ:STRO) saw a significant 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 volume of 978,300 shares, the days-to-cover ratio is currently 2.3 days.

Hedge Funds Weigh In On Sutro Biopharma

Several institutional investors have recently modified their holdings of STRO. Adage Capital Partners GP L.L.C. raised its stake in Sutro Biopharma by 1,275.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 3,105,132 shares of the company’s stock valued at $10,775,000 after acquiring an additional 2,879,412 shares in the last quarter. Kynam Capital Management LP increased its holdings in shares of Sutro Biopharma by 3.5% during the third quarter. Kynam Capital Management LP now owns 1,552,675 shares of the company’s stock valued at $5,388,000 after purchasing an additional 52,675 shares during the period. Sectoral Asset Management Inc. raised its stake in shares of Sutro Biopharma by 7.9% during the third quarter. Sectoral Asset Management Inc. now owns 432,339 shares of the company’s stock valued at $1,500,000 after purchasing an additional 31,693 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Sutro Biopharma by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,856 shares of the company’s stock worth $154,000 after purchasing an additional 9,092 shares during the period. Finally, SG Americas Securities LLC increased its stake in Sutro Biopharma by 25.6% during the 4th quarter. SG Americas Securities LLC now owns 40,779 shares of the company’s stock valued at $175,000 after buying an additional 8,314 shares during the period. Institutional investors own 96.99% of the company’s stock.

Sutro Biopharma Stock Down 0.7 %

NASDAQ:STRO opened at $2.91 on Monday. The company has a market cap of $238.02 million, a PE ratio of -1.56 and a beta of 1.24. The business’s 50 day moving average is $3.79 and its two-hundred day moving average is $4.18. Sutro Biopharma has a 52 week low of $2.01 and a 52 week high of $6.13.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.03). The business had revenue of $13.01 million for the quarter, compared to analyst estimates of $11.57 million. Sutro Biopharma had a negative return on equity of 94.18% and a negative net margin of 74.61%. As a group, sell-side analysts expect that Sutro Biopharma will post -3.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Sutro Biopharma in a research report on Tuesday, May 14th. Bank of America assumed coverage on shares of Sutro Biopharma in a research note on Wednesday, May 8th. They set a “buy” rating and a $12.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $8.00 target price on shares of Sutro Biopharma in a research note on Tuesday, May 14th. Oppenheimer reaffirmed an “outperform” rating and set a $10.00 price target on shares of Sutro Biopharma in a research note on Wednesday, May 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $11.00 price objective (down from $12.00) on shares of Sutro Biopharma in a research report on Wednesday, April 3rd. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $12.50.

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.