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

Sutro Biopharma, Inc. (NASDAQ:STRO - Get Free Report) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 6,860,000 shares, a growth of 28.5% from the April 30th total of 5,340,000 shares. Approximately 8.8% of the company's stock are short sold. Based on an average daily trading volume, of 1,870,000 shares, the days-to-cover ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler set a $2.00 price objective on Sutro Biopharma in a report on Friday, March 14th. HC Wainwright reissued a "neutral" rating and set a $2.00 price target on shares of Sutro Biopharma in a research report on Tuesday, April 29th. Citizens Jmp lowered Sutro Biopharma from an "outperform" rating to a "market perform" rating in a research report on Friday, March 14th. Bank of America dropped their price objective on Sutro Biopharma from $1.00 to $0.80 and set an "underperform" rating on the stock in a research note on Monday, May 19th. Finally, Wedbush cut shares of Sutro Biopharma from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $8.00 to $2.00 in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Sutro Biopharma has an average rating of "Hold" and a consensus price target of $6.11.

Sutro Biopharma Price Performance

NASDAQ STRO traded down $0.00 during trading on Wednesday, reaching $0.91. 515,843 shares of the company's stock were exchanged, compared to its average volume of 1,097,518. The business has a 50 day moving average price of $0.81 and a 200-day moving average price of $1.50. The stock has a market capitalization of $76.81 million, a P/E ratio of -0.56 and a beta of 1.77. Sutro Biopharma has a fifty-two week low of $0.52 and a fifty-two week high of $5.17.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.28). Sutro Biopharma had a negative return on equity of 101.89% and a negative net margin of 77.01%. The business had revenue of $17.40 million for the quarter, compared to the consensus estimate of $11.61 million. On average, analysts forecast that Sutro Biopharma will post -2.92 earnings per share for the current year.

Hedge Funds Weigh In On Sutro Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Sutro Biopharma by 16.6% during the 4th quarter. SG Americas Securities LLC now owns 40,432 shares of the company's stock worth $74,000 after buying an additional 5,770 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Sutro Biopharma in the 4th quarter valued at about $32,000. Vontobel Holding Ltd. raised its holdings in Sutro Biopharma by 66.7% in the 4th quarter. Vontobel Holding Ltd. now owns 25,000 shares of the company's stock valued at $46,000 after acquiring an additional 10,000 shares during the period. Rhumbline Advisers lifted its position in Sutro Biopharma by 6.1% during the fourth quarter. Rhumbline Advisers now owns 126,698 shares of the company's stock worth $233,000 after acquiring an additional 7,320 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Sutro Biopharma during the fourth quarter worth approximately $178,000. 96.99% of the stock is owned by institutional investors.

Sutro Biopharma Company Profile

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.