STRO
Sutro Biopharma, Inc.Healthcare·Biotechnology
$29.23
$248M market cap
Revenue
$26.2M
Free Cash Flow
$-68.9M
Rev Growth
+0.0%
FCF Margin
-263.2%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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 and site-specific conjugation platform, XpressCF+.The company's product candidates include STRO-001, an antibody-drug conjugate (ADC) directed against the cancer target CD74 for patients with multiple myeloma and non-Hodgkin lymphoma that is in Phase 1 clinical trials
2-Year Price History
$25.57-31.1%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 14.5 | -28.3 | -29.6 | -38.5 | -42.3 | -42.3 | -0.0 | 202.6 | 13.6 | 13.1 | -149.5% | -3.0x | -- |
| Act | 2025-Q4 | 11.7 | -34.9 | -33.7 | -46.8 | -26.4 | -26.6 | -0.2 | 141.4 | 235.2 | 8.6 | -57.1% | -3.4x | -- |
Valuation & Metrics
Market Stats
Price$29.23
Market Cap$248M
Enterprise Value$59M
P/S Ratio9.5x
P/FCF--
EV/FCF--
FCF Margin (TTM)-263.2%
FCF Yield-27.7%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$26.2M
Net Income$-85.3M
Free Cash Flow$-68.9M
Revenue Growth (YoY)+0.0%
EBITDA Margin-241.6%
Net Margin-325.7%
FCF Margin-263.2%
CapEx % of Revenue0.7%
SBC % of Revenue6.3%
ROIC-103.3%
WC Change % Rev-40.5%
Interest Coverage-3.2x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.0M
Days to Cover3.9
Change (vs Prior)+30.5%
Need at least 2 settlement dates for chart
Employees
Headcount269
Revenue / Employee$97,286
Gross Profit / Employee$92,535
Cash Runway
35.3months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
2.4%(-7.5% YoY)
7 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.0%(-3.4% YoY)
0 filers
Vanguard, iShares, SPDR
Market makers
0.0%(-0.1% YoY)
0 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Merck & Co., Inc. | $6.8M | $18.40 | +$0 | −$61.1M | +2.9% | $349M |
| AJU IB Investment Co., Ltd. | $436K | $52.10 | +$0 | −$3.9M | +3.6% | $30.5M |
| Fortitude Family Office, LLC | $1K | $11.57 | +$0 | +$1K | -0.4% | $445M |
| Bogart Wealth, LLC | $1K | $46.20 | +$0 | −$11K | +0.1% | $2.59B |
| Parallel Advisors, LLC | $1K | $46.32 | +$0 | −$10K | -0.3% | $5.55B |
| EverSource Wealth Advisors, LLC | $0 | $7.27 | −$0 | −$21K | -0.0% | $3.27B |
| Advisory Services Network, LLC | $0 | $8.68 | −$3K | +$0 | -0.9% | $7.52B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+1.25%
avg per quarter
Holders (ex-self)
+2.98%
excl. this stock
Buyers (this Q)
+0.00%
0 buyers · $0.00B in
Sellers (this Q)
-0.61%
2 sellers · $-0.00B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-12.6%
how holders react when this stock falls
On quiet Qs
-32.7%
−10% to +10% baseline
On rallies (+10%+)
-15.1%
how they react when this stock rises
Holders' portfolio flow this Q
+14.7%
inflows — adds are organic
Sellers' portfolio flow this Q
+12.4%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-0.0%
Holder mid (any stock)
-0.0%
Holder rally (any stock)
-2.8%
Biggest decreases this quarter
Top-5 holders · 100.0%
Merck & Co., Inc.--
AJU IB Investment Co., Ltd.--
Fortitude Family Office, LLC--
Bogart Wealth, LLC--
Parallel Advisors, LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FRANKLIN RESOURCES INC—SUVRETTA CAPITAL MANAGEMENT, LLC6.5MEVENTIDE ASSET MANAGEMENT, LLC—First Light Asset Management, LLC—SV Health Investors, LLC—BAILLIE GIFFORD & CO—Samsara BioCapital, LLC2.2MHolocene Advisors, LP—LOOMIS SAYLES & CO L P—BVF INC/IL—
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (4 analysts)$50.757360.0%
Last Year (4 analysts)$50.757360.0%
Current Price$29.23
Analyst Ratings
18
Buy: 18Hold: 1Sell: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$90K
5 txns · 5 insiders · 111,754 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2025-10-15 | BUY | Chow Gregory K. | officer: CFO | 19,750 | $0.81 | $16K | $16K |
| 2025-10-15 | BUY | Chung Jane | director, officer: Chief Executive Officer | 12,500 | $0.80 | $10K | $98K |
| 2025-10-15 | BUY | Gerber Hans-Peter | officer: CHIEF SCIENTIFIC OFFICER | 17,000 | $0.80 | $14K | $57K |
| 2025-10-15 | BUY | MATSUI CONNIE | director | 50,000 | $0.80 | $40K | $40K |
| 2025-10-15 | BUY | Pauling David | officer: Chief Admin. Ofcr. & GC | 12,504 | $0.80 | $10K | $57K |
Order Flow (FINRA, ~3w lag)
8.3%retail-5.8pp
49.0%dark+12.5pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Sutro Biopharma: A Bio-Liquidator Dressed in Deprioritized Pipelines
Overall Risk
9/10
Fraud
4/10
Dilution
9/10
Insolvency
9/10
Earnings Overstated
7/10
Hidden Liabilities
8/10
Legal
5/10
Audit Warnings
6/10
Hidden Upside
3/10
Contextually Acceptable
2/10