Sutro Biopharma, Inc. (NASDAQ:STRO) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 604,400 shares, a decrease of 75.6% from the December 15th total of 2,480,000 shares. Based on an average daily trading volume, of 486,700 shares, the days-to-cover ratio is presently 1.2 days.
In other news, insider Trevor Hallam sold 16,751 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $15.00, for a total transaction of $251,265.00. Following the completion of the sale, the insider now directly owns 53,463 shares in the company, valued at $801,945. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 21,537 shares of company stock valued at $345,501. 28.90% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in STRO. California Public Employees Retirement System acquired a new stake in shares of Sutro Biopharma during the 2nd quarter valued at $289,000. Bank of New York Mellon Corp lifted its stake in Sutro Biopharma by 73.0% during the second quarter. Bank of New York Mellon Corp now owns 49,905 shares of the company's stock worth $387,000 after purchasing an additional 21,051 shares during the period. Goldman Sachs Group Inc. lifted its stake in Sutro Biopharma by 191.3% during the second quarter. Goldman Sachs Group Inc. now owns 40,586 shares of the company's stock worth $315,000 after purchasing an additional 26,652 shares during the period. American International Group Inc. lifted its stake in Sutro Biopharma by 59.3% during the second quarter. American International Group Inc. now owns 10,260 shares of the company's stock worth $80,000 after purchasing an additional 3,820 shares during the period. Finally, Federated Hermes Inc. bought a new position in Sutro Biopharma during the second quarter worth about $29,000. 67.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:STRO opened at $25.72 on Tuesday. Sutro Biopharma has a 52-week low of $6.00 and a 52-week high of $26.85. The business has a fifty day moving average of $21.11 and a two-hundred day moving average of $13.38. The stock has a market cap of $992.89 million, a P/E ratio of -23.38 and a beta of 0.58. The company has a quick ratio of 7.29, a current ratio of 7.29 and a debt-to-equity ratio of 0.12.
Sutro Biopharma (NASDAQ:STRO) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.51) by $0.96. Sutro Biopharma had a negative return on equity of 53.40% and a negative net margin of 43.34%. The business had revenue of $17.82 million for the quarter, compared to analyst estimates of $8.71 million. On average, equities analysts anticipate that Sutro Biopharma will post -1.73 earnings per share for the current year.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Sutro Biopharma from a "buy" rating to a "hold" rating in a research note on Thursday, December 3rd. Stifel Nicolaus assumed coverage on shares of Sutro Biopharma in a report on Wednesday, December 2nd. They set a "buy" rating and a $25.00 price objective for the company. BidaskClub upgraded shares of Sutro Biopharma from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 29th. Finally, Piper Sandler raised their price objective on shares of Sutro Biopharma from $20.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, November 6th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. The stock presently has a consensus rating of "Buy" and a consensus target price of $18.64.
Sutro Biopharma Company Profile
Sutro Biopharma, Inc operates as clinical stage drug discovery, development, and manufacturing company. It focuses on creating protein therapeutics for cancer and autoimmune disorders through integrated cell-free protein synthesis and site-specific conjugation platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers.
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12 Stocks Corporate Insiders are Abandoning
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