Why Sutro Biopharma's Stock Is Trading Higher Today

Sutro Biopharma (NASDAQ: 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.