Sutro Biopharma, Inc. (NASDAQ:STRO – Get Rating) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 3,180,000 shares, an increase of 49.3% from the April 30th total of 2,130,000 shares. Based on an average trading volume of 486,600 shares, the short-interest ratio is presently 6.5 days. Approximately 8.3% of the shares of the stock are sold short.
Sutro Biopharma stock opened at $4.44 on Friday. The company’s 50-day moving average price is $6.68 and its two-hundred day moving average price is $10.32. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.90 and a quick ratio of 5.90. Sutro Biopharma has a 52 week low of $4.17 and a 52 week high of $23.70.
Sutro Biopharma (NASDAQ:STRO – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.08). Sutro Biopharma had a negative return on equity of 42.97% and a negative net margin of 215.16%. Equities research analysts forecast that Sutro Biopharma will post -3.3 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd boosted its holdings in shares of Sutro Biopharma by 99.3% in the third quarter. Point72 Hong Kong Ltd now owns 1,329 shares of the company’s stock worth $25,000 after buying an additional 662 shares during the period. Royal Bank of Canada boosted its holdings in shares of Sutro Biopharma by 206.2% in the third quarter. Royal Bank of Canada now owns 1,329 shares of the company’s stock worth $25,000 after buying an additional 895 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Sutro Biopharma in the first quarter worth about $42,000. Prospera Financial Services Inc acquired a new position in shares of Sutro Biopharma in the first quarter worth about $50,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Sutro Biopharma during the first quarter worth approximately $56,000. 92.68% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Sutro Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, March 3rd. HC Wainwright dropped their target price on Sutro Biopharma from $35.00 to $30.00 in a report on Wednesday, May 11th. Wedbush dropped their price objective on Sutro Biopharma from $30.00 to $20.00 in a report on Tuesday, May 10th. Piper Sandler dropped their price objective on Sutro Biopharma from $29.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Finally, JMP Securities restated a “buy” rating and set a $20.00 price objective on shares of Sutro Biopharma in a report on Monday, April 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.43.
Sutro Biopharma Company Profile (Get Rating)
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 that is in Phase 1 clinical trials; and STRO-002, an ADC directed against folate receptor-alpha for patients with ovarian and endometrial cancers, which is in Phase 1 clinical trials.
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