Short Interest in Sutro Biopharma, Inc. (NASDAQ:STRO) Grows By 20.1%

Sutro Biopharma, Inc. (NASDAQ:STRO) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 639,714 shares, an increase of 20.1% from the March 15th total of 532,614 shares. Based on an average trading volume of 228,901 shares, the short-interest ratio is currently 2.8 days. Approximately 4.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on STRO shares. Citigroup reiterated an “outperform” rating on shares of Sutro Biopharma in a research report on Friday. Wall Street Zen upgraded shares of Sutro Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. HC Wainwright raised shares of Sutro Biopharma from a “neutral” rating to a “buy” rating and lifted their price target for the company from $10.00 to $28.00 in a report on Tuesday, March 24th. Leerink Partners began coverage on shares of Sutro Biopharma in a research report on Tuesday, April 7th. They issued an “outperform” rating and a $38.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sutro Biopharma in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.88.

Hedge Funds Weigh In On Sutro Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury acquired a new position in Sutro Biopharma in the fourth quarter valued at about $86,000. Opaleye Management Inc. bought a new position in shares of Sutro Biopharma in the fourth quarter worth about $2,206,000. Balyasny Asset Management L.P. bought a new position in shares of Sutro Biopharma in the fourth quarter worth about $2,662,000. ADAR1 Capital Management LLC bought a new position in shares of Sutro Biopharma in the fourth quarter worth about $776,000. Finally, Spruce Street Capital LP bought a new position in shares of Sutro Biopharma in the fourth quarter worth about $875,000. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Sutro Biopharma Stock Up 7.5%

NASDAQ:STRO opened at $31.55 on Friday. The firm has a market cap of $522.78 million, a PE ratio of -1.21 and a beta of 1.31. Sutro Biopharma has a 12 month low of $5.33 and a 12 month high of $32.58. The company’s 50-day moving average price is $22.41 and its two-hundred day moving average price is $14.81.

About Sutro Biopharma

Sutro Biopharma, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of novel biologic drug candidates in the fields of oncology and immunology. The company leverages a proprietary cell-free protein synthesis platform, XpressCF™, to design and produce complex, multi-specific proteins that include antibody-drug conjugates, bispecific antibodies, and cytokine fusion proteins. This platform enables rapid generation and optimization of protein therapeutics that may not be feasible with traditional cell-based expression systems.

Founded in 2003 and headquartered in South San Francisco, California, Sutro Biopharma has built a pipeline of immuno-oncology candidates in various stages of preclinical and clinical development.