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Spero Therapeutics, Inc. (NASDAQ:SPRO) Sees Large Growth in Short Interest

Financial News Live ·  Sep 28, 2022 08:21

Spero Therapeutics, Inc. (NASDAQ:SPRO – Get Rating) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 777,200 shares, a growth of 182.0% from the August 31st total of 275,600 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily volume of 6,970,000 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Several brokerages have commented on SPRO. HC Wainwright decreased their target price on shares of Spero Therapeutics from $7.00 to $6.00 and set a "buy" rating for the company in a report on Monday. Evercore ISI upgraded shares of Spero Therapeutics from an "in-line" rating to an "outperform" rating and set a $8.00 target price for the company in a report on Thursday, September 22nd. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.33.

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Insider Transactions at Spero Therapeutics

In other news, major shareholder Aquilo Capital Management, Llc sold 1,901,796 shares of Spero Therapeutics stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $2.25, for a total value of $4,279,041.00. Following the transaction, the insider now owns 3,419,435 shares of the company's stock, valued at approximately $7,693,728.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.36% of the company's stock.

Hedge Funds Weigh In On Spero Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kingsbury Capital Investment Advisors LLC bought a new position in shares of Spero Therapeutics in the second quarter valued at approximately $45,000. Engineers Gate Manager LP bought a new position in shares of Spero Therapeutics in the first quarter valued at approximately $95,000. Assenagon Asset Management S.A. raised its position in shares of Spero Therapeutics by 466.6% in the second quarter. Assenagon Asset Management S.A. now owns 131,020 shares of the company's stock valued at $97,000 after purchasing an additional 107,897 shares during the period. AQR Capital Management LLC bought a new position in shares of Spero Therapeutics in the second quarter valued at approximately $115,000. Finally, XTX Topco Ltd bought a new position in shares of Spero Therapeutics in the first quarter valued at approximately $115,000. Institutional investors own 57.38% of the company's stock.

Spero Therapeutics Price Performance

SPRO traded down $0.07 during midday trading on Tuesday, hitting $2.02. 9,774,324 shares of the company's stock traded hands, compared to its average volume of 2,793,390. The company has a market cap of $70.84 million, a PE ratio of -0.58 and a beta of 1.87. The stock's fifty day simple moving average is $0.98 and its 200-day simple moving average is $2.61. Spero Therapeutics has a one year low of $0.68 and a one year high of $19.87.

Spero Therapeutics Company Profile

(Get Rating)

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States. The company's product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults; SPR206, a direct acting IV-administered agent to treat MDR Gram-negative bacterial infections in the hospital; and SPR720, an oral antibiotic for the treatment of non-tuberculous mycobacterial pulmonary disease.

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