Sutro Biopharma Inc (NASDAQ:STRO) Short Interest Up 11.5% in July

Sutro Biopharma Inc (NASDAQ:STRO) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 793,500 shares, a growth of 11.5% from the June 30th total of 711,600 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 160,600 shares, the short-interest ratio is currently 4.9 days.

In other Sutro Biopharma news, insider Arturo Md Molina bought 6,451 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $7.75 per share, with a total value of $49,995.25. Following the purchase, the insider now directly owns 12,083 shares of the company’s stock, valued at $93,643.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Newell purchased 64,516 shares of Sutro Biopharma stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $7.75 per share, with a total value of $499,999.00. Following the transaction, the chief executive officer now directly owns 166,627 shares in the company, valued at approximately $1,291,359.25. The disclosure for this purchase can be found here. Insiders own 28.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in shares of Sutro Biopharma in the fourth quarter worth $113,000. UBS Group AG lifted its holdings in shares of Sutro Biopharma by 54.9% during the 4th quarter. UBS Group AG now owns 13,464 shares of the company’s stock worth $148,000 after acquiring an additional 4,774 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Sutro Biopharma during the 4th quarter worth approximately $127,000. Bank of America Corp DE increased its stake in Sutro Biopharma by 20.1% in the fourth quarter. Bank of America Corp DE now owns 27,424 shares of the company’s stock valued at $302,000 after acquiring an additional 4,585 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Sutro Biopharma during the fourth quarter valued at approximately $296,000. Institutional investors own 51.10% of the company’s stock.

STRO has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of Sutro Biopharma from $23.00 to $20.00 in a research note on Monday, May 18th. B. Riley lowered shares of Sutro Biopharma to a “hold” rating in a research report on Tuesday, May 12th. Wells Fargo & Co started coverage on shares of Sutro Biopharma in a research report on Thursday, July 16th. They issued an “overweight” rating and a $18.00 target price on the stock. HC Wainwright dropped their price objective on shares of Sutro Biopharma from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Finally, Zacks Investment Research raised shares of Sutro Biopharma from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $16.86.

Shares of NASDAQ:STRO opened at $7.77 on Friday. Sutro Biopharma has a 12 month low of $6.00 and a 12 month high of $12.75. The company’s fifty day simple moving average is $8.50 and its 200 day simple moving average is $9.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.98 and a current ratio of 3.98.

Sutro Biopharma (NASDAQ:STRO) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.69) by ($0.15). Sutro Biopharma had a negative net margin of 148.06% and a negative return on equity of 59.70%. The firm had revenue of $7.15 million during the quarter, compared to analyst estimates of $11.16 million. Sell-side analysts expect that Sutro Biopharma will post -2.7 EPS 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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