Is SPRY or STRO more undervalued in 2026?

CirclFi compares ARS Pharmaceuticals, Inc. (SPRY) and Sutro Biopharma, Inc. (STRO) using 13 institutional-grade valuation models. SPRY has a Quality of Company score of 4.7/10 while STRO scores 5.6/10.

Which is a better buy — SPRY or STRO?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do SPRY and STRO valuations compare?

SPRY at $9.40 and STRO at $29.63 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

SPRY vs STRO Valuation Comparison 2026 — Intrinsic Value Analysis

SPRY

Biotechnology

ARS Pharmaceuticals, Inc.

Quality

4.7

out of 10

Value Trap

SAFE

Price

$9.40

Last close

Models

8/13

Active

STRO

Biotechnology

Sutro Biopharma, Inc.

Quality

5.6

out of 10

Value Trap

SAFE

Price

$29.63

Last close

Models

8/13

Active

Model-by-Model Comparison

Model	Type	SPRY Fair Value	SPRY Upside	STRO Fair Value	STRO Upside
Bayesian DCF	Intrinsic	$2.27	-75.8%	$7.89	-73.4%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$1.53	-83.7%	$7.27	-75.5%
Dynamic NAV	Asset-Based	—	—	$4.73	-84.0%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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SPRY vs STRO — Which Stock Is More Undervalued?

STRO scores higher with a 5.6/10 quality rating vs SPRY's 4.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing ARS Pharmaceuticals, Inc. (SPRY) and Sutro Biopharma, Inc. (STRO) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

SPRY currently trades at $9.40 with a QOC of 4.7/10, while STRO trades at $29.63 with a QOC of 5.6/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).