Sutro Biopharma, Inc. (NASDAQ:STRO) Sees Large Increase in Short Interest

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in Sutro Biopharma by 6.1% in the 4th quarter. Rhumbline Advisers now owns 126,698 shares of the company's stock worth $233,000 after purchasing an additional 7,320 shares during the period. Prudential Financial Inc. increased its position in Sutro Biopharma by 351.0% in the fourth quarter. Prudential Financial Inc. now owns 547,510 shares of the company's stock worth $1,007,000 after buying an additional 426,100 shares in the last quarter. LPL Financial LLC raised its stake in shares of Sutro Biopharma by 34.2% in the fourth quarter. LPL Financial LLC now owns 362,232 shares of the company's stock worth $667,000 after buying an additional 92,333 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Sutro Biopharma by 15.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,136,457 shares of the company's stock valued at $2,091,000 after buying an additional 156,139 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Sutro Biopharma by 29.1% during the 4th quarter. American Century Companies Inc. now owns 93,033 shares of the company's stock valued at $171,000 after acquiring an additional 20,958 shares during the period. Hedge funds and other institutional investors own 96.99% of the company's stock.

Analyst Upgrades and Downgrades

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

Sutro Biopharma Stock Up 2.9%

NASDAQ:STRO traded up $0.02 on Friday, hitting $0.85. The stock had a trading volume of 631,714 shares, compared to its average volume of 1,099,050. The business's 50-day simple moving average is $0.81 and its two-hundred day simple moving average is $1.48. The stock has a market cap of $71.62 million, a price-to-earnings ratio of -0.53 and a beta of 1.77. Sutro Biopharma has a 52-week low of $0.52 and a 52-week high of $5.17.

Sutro Biopharma (NASDAQ:STRO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $11.61 million. As a group, equities research analysts anticipate that Sutro Biopharma will post -2.92 EPS for the current year.

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.