The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sutro Biopharma Inc. shares valued at $77,508 were purchased by NEWELL WILLIAM J on Mar 14. At $7.75 per share, NEWELL WILLIAM J acquired 10,000 shares. The insider’s holdings grew to 116,525 shares worth approximately $0.64 million following the completion of this transaction.
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Also, Vasquez Nicki sold 3,906 shares, netting a total of over 72,724 in proceeds. Following the sale of shares at $18.62 each, the insider now holds 7,270 shares.
As published in their initiating research note from H.C. Wainwright on June 18, 2021, Sutro Biopharma Inc. [STRO] has been a Buy and the price target has been revised to $35. This represents a 84.31% premium over Thursday’s closing price. Analysts at Stifel started covering the stock with ‘”a Buy”‘ outlook in a report released in early December. As of September 02, 2020, Jefferies has initiated its “Buy” rating for STRO. Earlier on July 16, 2020, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for STRO stock.
Analyzing STRO’s Price Performance
On Thursday, Sutro Biopharma Inc. [NASDAQ: STRO] rose 2.23% to $5.49. The stock’s lowest price that day was $5.27, but it reached a high of $5.53 in the same session. During the last five days, there has been a drop of approximately -8.96%. Over the course of the year, Sutro Biopharma Inc. shares have dropped approximately -63.10%. Shares of the company reached a 52-week high of $15.67 on 01/04/22 and a 52-week low of $3.33 on 06/16/22. A 50-day SMA is recorded $5.06, while a 200-day SMA reached $9.98. Nevertheless, trading volume fell to 1.25 million shares from 0.35 million shares the previous day.
Support And Resistance Levels for Sutro Biopharma Inc. (STRO)
According to the 24-hour chart, there is a support level at 5.33, which, if violated, would cause prices to drop to 5.17. In the upper region, resistance lies at 5.59. The next price resistance is at 5.69. RSI (Relative Strength Index) is 47.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.42, which suggests the price will decrease in the coming days. Percent R is at 80.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Sutro Biopharma Inc. subject to short interest?
Stocks of Sutro Biopharma Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.3 million shares to 4.87 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.57 million shares. A jump of 6.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.84.
Which companies own the most shares of Sutro Biopharma Inc. (STRO)?
According to Suvretta Capital Management LLC filings, the company currently owns 3,732,400 shares, which is about 7.95% of the total STRO shares outstanding. The investor’s shares have appreciated by 1,294,605 from its previous 13-F filing of 2437795.0 shares. With the completion of the buy transaction, Franklin Advisers, Inc.’s stake is now worth $19,425,985. BVF Partners LP acquire a 272.69% interest valued at $17.96 million while BlackRock Fund Advisors purchased a 43,008 stake. A total of 0 shares of Sutro Biopharma Inc. were bought by Eventide Asset Management LLC during the quarter, and 1,051,649 were bought by SSgA Funds Management, Inc. In its current portfolio, Millennium Management LLC holds 2,422,673 shares valued at $12.62 million.
In terms of Sutro Biopharma Inc. share price expectations, FactSet research, analysts set an average price target of $27.00 in the next 12 months, up nearly 458.66% from the previous closing price of $5.37. Analysts anticipate Sutro Biopharma Inc. stock to reach $37.00 by 2022, with the lowest price target being $16.00. In spite of this, 9 analysts ranked Sutro Biopharma Inc. stock as a Buy at the end of 2022. On January 13, 2020, SunTrust assigned a price target of “a Buy” to the stock and initiated coverage with a $18.