Short Interest in Sutro Biopharma Inc (NASDAQ:STRO) Increases By 29.1%

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Sutro Biopharma Inc (NASDAQ:STRO) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 137,200 shares, an increase of 29.1% from the April 30th total of 106,300 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 26,100 shares, the short-interest ratio is currently 5.3 days.

STRO traded up $0.01 during trading on Wednesday, hitting $11.48. 10,800 shares of the company traded hands, compared to its average volume of 32,714. The firm has a market capitalization of $269.60 million and a price-to-earnings ratio of -1.87. The firm’s fifty day moving average price is $11.42. Sutro Biopharma has a one year low of $8.50 and a one year high of $15.90.

Sutro Biopharma (NASDAQ:STRO) last issued its earnings results on Wednesday, May 15th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.02). The business had revenue of $8.63 million for the quarter, compared to analysts’ expectations of $8.92 million. On average, sell-side analysts forecast that Sutro Biopharma will post -2.4 EPS for the current year.

STRO has been the topic of several research reports. HC Wainwright set a $126.00 price objective on shares of AnaptysBio and gave the stock a “buy” rating in a report on Monday, June 24th. Cowen restated a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. Zacks Investment Research reiterated a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Finally, ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Sutro Biopharma presently has a consensus rating of “Buy” and an average target price of $22.75.

A number of large investors have recently modified their holdings of the business. American International Group Inc. bought a new position in Sutro Biopharma during the fourth quarter worth about $38,000. Jennison Associates LLC boosted its position in shares of Sutro Biopharma by 3.6% in the first quarter. Jennison Associates LLC now owns 137,788 shares of the company’s stock valued at $1,569,000 after acquiring an additional 4,741 shares during the period. SG Americas Securities LLC boosted its position in shares of Sutro Biopharma by 40.6% in the first quarter. SG Americas Securities LLC now owns 26,380 shares of the company’s stock valued at $300,000 after acquiring an additional 7,619 shares during the period. Deutsche Bank AG bought a new position in shares of Sutro Biopharma in the fourth quarter valued at approximately $87,000. Finally, Spark Investment Management LLC bought a new position in shares of Sutro Biopharma in the first quarter valued at approximately $168,000. Hedge funds and other institutional investors own 49.00% of the company’s stock.

About Sutro Biopharma

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 platform, XpressCF. The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for 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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