Sutro Biopharma Inc (NASDAQ:STRO) saw a significant increase in short interest in the month of March. As of March 13th, there was short interest totalling 68,900 shares, an increase of 53.8% from the February 27th total of 44,800 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 23,800 shares, the short-interest ratio is presently 2.9 days.
STRO has been the topic of a number of recent research reports. Cowen reiterated a “buy” rating on shares of Sutro Biopharma in a report on Monday, March 16th. SunTrust Banks initiated coverage on shares of Sutro Biopharma in a report on Monday, January 13th. They set a “buy” rating and a $18.00 price target on the stock. ValuEngine lowered shares of Sutro Biopharma from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Thursday, March 19th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Sutro Biopharma in a research note on Tuesday, March 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $16.83.
Several large investors have recently bought and sold shares of STRO. Eventide Asset Management LLC boosted its holdings in Sutro Biopharma by 137.1% during the fourth quarter. Eventide Asset Management LLC now owns 1,244,895 shares of the company’s stock worth $13,694,000 after purchasing an additional 719,895 shares during the last quarter. Granite Point Capital Management L.P. purchased a new position in Sutro Biopharma during the fourth quarter worth about $1,100,000. Victory Capital Management Inc. boosted its holdings in Sutro Biopharma by 995.8% during the fourth quarter. Victory Capital Management Inc. now owns 59,566 shares of the company’s stock worth $610,000 after purchasing an additional 54,130 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Sutro Biopharma by 112.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 65,334 shares of the company’s stock worth $719,000 after purchasing an additional 34,548 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Sutro Biopharma during the fourth quarter worth about $296,000. 49.70% of the stock is owned by institutional investors.
Sutro Biopharma (NASDAQ:STRO) last posted its earnings results on Monday, March 16th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.05. The business had revenue of $11.31 million for the quarter, compared to the consensus estimate of $9.33 million. As a group, equities research analysts predict that Sutro Biopharma will post -2.98 earnings per share for the current year.
Sutro Biopharma Company Profile
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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