Why Sutro Biopharma's Stock Is Trading Higher Today

Sutro Biopharma STRO shares are trading higher on Monday after peer company Immunomedics, who also works to treat cancer, was acquired by Gilead.
Sutro Biopharma is a clinical stage company pioneering a compelling and unique way of discovering, developing and manufacturing therapeutics. Its focus is aimed primarily on next generation cancer and autoimmune therapeutics — antibody conjugates, bispecific antibodies and cytokine derivatives. Unconstrained by traditional methods of cell-based discovery, we can design and develop targeted medicines by innovating outside the constraints of the cell.
Sutro Biopharma shares were trading up 8.19% at $11.03 on Monday during the time of publication. The stock has a 52-week high of $13.91 and a 52-week low of $6.