Spero Therapeutics (NASDAQ:SPRO) Shares Pass Below Two Hundred Day Moving Average of $1.46

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.46 and traded as low as $1.30. Spero Therapeutics shares last traded at $1.30, with a volume of 80,228 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SPRO. Cantor Fitzgerald restated an “overweight” rating on shares of Spero Therapeutics in a research note on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Spero Therapeutics in a research note on Tuesday, August 6th. Finally, TD Cowen upgraded shares of Spero Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.

Spero Therapeutics Stock Performance

The firm has a 50-day moving average price of $1.34 and a 200-day moving average price of $1.46. The stock has a market cap of $70.18 million, a PE ratio of 3.02 and a beta of 0.62.

Spero Therapeutics (NASDAQ:SPRO) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.01. The firm had revenue of $10.20 million during the quarter, compared to analyst estimates of $9.80 million. Spero Therapeutics had a return on equity of 25.67% and a net margin of 14.74%. During the same quarter in the previous year, the firm earned ($0.23) EPS. As a group, sell-side analysts anticipate that Spero Therapeutics, Inc. will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPRO. Virtu Financial LLC bought a new stake in Spero Therapeutics in the first quarter worth $31,000. Renaissance Technologies LLC lifted its position in Spero Therapeutics by 14.2% in the second quarter. Renaissance Technologies LLC now owns 975,952 shares of the company’s stock worth $1,269,000 after buying an additional 121,492 shares during the last quarter. Acadian Asset Management LLC lifted its position in Spero Therapeutics by 121.8% in the first quarter. Acadian Asset Management LLC now owns 762,598 shares of the company’s stock worth $1,310,000 after buying an additional 418,742 shares during the last quarter. Murchinson Ltd. lifted its position in Spero Therapeutics by 1.3% in the first quarter. Murchinson Ltd. now owns 873,910 shares of the company’s stock worth $1,503,000 after buying an additional 11,210 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in Spero Therapeutics in the fourth quarter worth $1,570,000. 25.60% of the stock is currently owned by institutional investors.

Spero Therapeutics Company Profile

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel 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, an intravenous-administered antibiotic against MDR Gram-negative pathogens comprising carbapenem-resistant enterobacterales (CRE), acinetobacter baumannii, and pseudomonas aeruginosa, as well as negative bacterial infections in the hospital setting; and SPR720, a novel oral antibiotic agent for the treatment of non-tuberculous mycobacterial pulmonary disease.