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Sutro Biopharma, Inc (STRO) fair value: what the stock is really worth

As of Nov 9, 2026: fair value (intrinsic value) of Sutro Biopharma, Inc stock $10.17, price $10.61, that is 4.1% below the price, quality 38 out of 100. Rating: fairly valued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Healthcare US

SB Sutro Biopharma, Inc logo Thin data Nov 10, 2026

Sutro Biopharma, Inc

STRO · US
Fairly valued, weak quality

The stock costs about what our calculation considers fair.

Fair value $10.17 · Fairly valued
Expensive Growth (revenue 5y +19.1 %/yr in USD)
Negative equity (buybacks among others)
Revenue last quarter 85% below a year ago.
Quality 38/100
Loss-making · -186.5% net margin (FY2025)
Negative free cash flow
Trails peers (2/6)
Thin data
Estimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$235.30 $5.25 Fair Value $10.17 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $5.25 – $235.30 · fair‑value band $7.63 – $12.71 · the $10.61 price screens above the $10.17 fair value. As of Nov 10, 2026.

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Company profile

Sutro Biopharma, Inc. operates as an oncology company.

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The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF; and site-specific conjugation platform, XpressCF+. Its lead product candidate includes STRO-004, a tissue factor (TF) targeting ADC for the treatment of TF-expressing solid tumors, including non-small cell lung cancer, head and neck squamous cell carcinoma, cervical cancer, colorectal cancer, pancreatic ductal adenocarcinoma, endometrial cancer, and bladder cancer.

The company also develops VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease in adults and adults and infants; and STRO-003, an ADC directed against an anti-receptor tyrosine kinase-like orphan receptor 1 (ROR1) for the treatment of solid tumors, such as triple negative breast cancer, non-small cell lung cancer, and ovarian cancer, as well as hematological cancers.

Sutro Biopharma, Inc. has collaboration and license agreements with Vaxcyte to discover and develop vaccine candidates for the treatment or prophylaxis of infectious diseases; Tasly Biopharmaceuticals Co., Ltd. to develop and commercialize STRO-002 in Greater China; Ipsen to develop and commercialize STRO-003, an ADC targeting ROR1; and Astellas Pharma Inc. to develop immunostimulatory ADC. The company was formerly known as Fundamental Applied Biology, Inc. Sutro Biopharma, Inc. was incorporated in 2003 and is headquartered in South San Francisco, California.

Stock analysis

Sutro Biopharma, Inc (STRO) currently trades at $10.61, while our estimate is $10.17, so the stock looks roughly fairly valued today (gap 4.3%).

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $7.63 (bear) to $12.71 (bull), the price of $10.61 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 38/100 (below-average quality), in the Healthcare sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Sutro Biopharma, Inc reported revenue of $102M in FY2025 versus $61.9M in FY2021, a compound +13.4%/yr. Reported net income was −$191M in FY2025.

Key figures

Market cap $184M Micro · P/S ratio 4.16 · EPS (TTM) $−18.02 · Return on equity −1,810% · Return on assets (EBIT) −40.3% (5-year average) · Operating margin −302% · Revenue (TTM) $45.7M · Revenue growth (YoY) −84.6%.

What moves the price

The share trades about 74% below its 52-week high and 45% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −6% fair-value upside, at −4%, STRO screens cheaper than that median.

Fair Value

Bear $7.63 Fair Value $10.17 Bull $12.71
Price $10.61 · Downside -4.1%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 38/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 34
How much profit the company makes from its sales and capital
Quality Growth 79
Are margins and returns getting better?
Cashflow 10
Do the profits arrive as real cash?
Financial strength 33
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 12
How calm the share price moves, does not count
Price momentum 25
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 29
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, no officer or director bought or sold shares on the open market.

Plus 2 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 9, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+65.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.1%
Start year 2020 (pandemic)
Revenue growth 9 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.2%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−166.3% (2020) → −102.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 867 stocks

Beats the industry median on 2/6 measures
Overall it trails its industry peers.
Valuation
Quality Score 38 · Below median
Fair Value upside −4.1% · Top 25%
Profitability
Return on equity (12 months) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −109.9% · Bottom 25%
Net margin (12 months) −186.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY) −84.6% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Biotechnology median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months) 4.03× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)28 · sector 0
FUTURE (revenue growth)0 · sector 0
PAST (return on equity)0 · sector 0
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 19

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Biotechnology stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Regeneron Pharmaceuticals, Inc REGN $919.96 $1,275 +39% vs STRO
Samsung Biologics Co 207940 1,468,000 KRW 1,661,000 KRW +13% vs STRO
Vertex Pharmaceuticals Incorporated VRTX $550.87 $601.80 +9% vs STRO
Genmab A/S GMAB kr 3,661 kr 3,880 +6% vs STRO
argenx SE ARGX $962.27 $908.40 −6% vs STRO
CSL Limited CSL A$200.73 A$181.40 −10% vs STRO
BeOne Medicines AG 6160 HK$252.20 HK$152.80 −39% vs STRO
Roivant Sciences Ltd ROIV $40.67 $17.39 −57% vs STRO
Celltrion, Inc 068270 203,000 KRW 74,945 KRW −63% vs STRO
Royalty Pharma plc RPRX $68.77 $19.01 −72% vs STRO

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Sutro Biopharma, Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Sutro Biopharma, Inc Fair Value". https://www.fairvalue-calculator.com/stock/STRO

Frequently asked questions

Is Sutro Biopharma, Inc (STRO) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $10.17 versus a price of $10.61, about 4% lower (fairly valued).
What is the fair value of STRO?
Our estimate for Sutro Biopharma, Inc is $10.17 (as of Nov 10, 2026), built from audited fundamentals. The current price: $10.61.
What is the quality score of STRO?
Sutro Biopharma, Inc has a Quality Score of 38/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sutro Biopharma, Inc (STRO)?
Our calculated price target is the estimate of $10.17 (as of Nov 10, 2026). Cautious scenario $7.63, optimistic scenario $12.71. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Sutro Biopharma, Inc stock forecast for 2026?
Our estimate puts fair value at $10.17, about 4% lower versus a price of $10.61 (fairly valued). Cautious scenario $7.63, optimistic scenario $12.71. The calculation is refreshed regularly with new filings.
What is the revenue of Sutro Biopharma, Inc (STRO)?
Sutro Biopharma, Inc reported trailing-twelve-month revenue of about $45.7M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Sutro Biopharma, Inc (STRO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sutro Biopharma, Inc it is $10.17 per share (as of Nov 10, 2026), against a price of $10.61.
Is Sutro Biopharma, Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, STRO trades above its calculated fair value: price $10.61, fair value $10.17, a gap of about −4% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of STRO?
No. The price is what the market pays today ($10.61); the fair value is what the company's own numbers justify ($10.17). For Sutro Biopharma, Inc the two are $0.4400 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sutro Biopharma, Inc worth?
The market values Sutro Biopharma, Inc at about $184M (market capitalisation, as of Nov 10, 2026). Per share that is $10.61; our models calculate a fair value of $10.17 per share.
What do the bullish and bearish scenarios say about STRO?
Our models span a range for Sutro Biopharma, Inc: cautious scenario $7.63, base $10.17, optimistic $12.71 per share (as of Nov 10, 2026, price $10.61). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Sutro Biopharma, Inc (STRO)?
Balance-sheet figures for Sutro Biopharma, Inc (as of Nov 10, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 38/100, which measures business quality independently of the share price.
How far is STRO from its 52-week high?
Sutro Biopharma, Inc trades at $10.61, about 74% below its 52-week high of $40.91 and 45% above the low of $7.30 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of $10.17 is for.
Which stocks are comparable to Sutro Biopharma, Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sutro Biopharma, Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $10.61, calculated fair value $10.17 (−4%), Quality Score 38/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 13.7% above its aggregate fair value. Sutro Biopharma, Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sutro Biopharma, Inc (STRO)?
The closing price on Nov 9, 2026 was $10.61. Our estimate is $10.17, about 4% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sutro Biopharma, Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Sutro Biopharma, Inc

How large is the market capitalisation of Sutro Biopharma, Inc (STRO)?
The market capitalisation of Sutro Biopharma, Inc is $184M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sutro Biopharma, Inc (STRO)?
The price-to-sales ratio of Sutro Biopharma, Inc is 4.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sutro Biopharma, Inc (STRO)?
Earnings per share at Sutro Biopharma, Inc are $−18.02. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Sutro Biopharma, Inc (STRO)?
The return on equity (ROE) of Sutro Biopharma, Inc is −1,810% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sutro Biopharma, Inc (STRO)?
On an EBIT basis the return on assets of Sutro Biopharma, Inc is −40.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sutro Biopharma, Inc (STRO)?
The operating margin of Sutro Biopharma, Inc is −302% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sutro Biopharma, Inc (STRO)?
Revenue at Sutro Biopharma, Inc is growing −84.6% versus a year earlier (3y avg +14.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Sutro Biopharma, Inc (STRO) generate?
The free cash flow of Sutro Biopharma, Inc is −$179M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Sutro Biopharma, Inc (STRO) hold?
Sutro Biopharma, Inc holds more cash than debt, $42.5M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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