Spero Therapeutics (NASDAQ:SPRO) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Spero Therapeutics, Inc. (NASDAQ:SPRO) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.06 and traded as low as $0.80. Spero Therapeutics shares last traded at $0.82, with a volume of 436,097 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Spero Therapeutics in a research report on Thursday, January 30th. Evercore ISI downgraded shares of Spero Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective for the company. in a research note on Friday, December 20th.

Spero Therapeutics Price Performance

The stock’s 50-day moving average is $0.82 and its 200 day moving average is $1.06. The stock has a market cap of $44.57 million, a price-to-earnings ratio of 11.68 and a beta of 0.68.

Insider Activity at Spero Therapeutics

In other Spero Therapeutics news, CEO Sath Shukla sold 155,333 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $0.78, for a total value of $121,159.74. Following the sale, the chief executive officer now owns 1,736,883 shares of the company’s stock, valued at $1,354,768.74. This represents a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ankit Mahadevia sold 69,219 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $0.78, for a total value of $53,990.82. Following the sale, the director now directly owns 689,866 shares in the company, valued at approximately $538,095.48. The trade was a 9.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 245,241 shares of company stock worth $191,288 over the last three months. 4.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Spero Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SPRO. Anson Funds Management LP lifted its stake in shares of Spero Therapeutics by 2.4% in the fourth quarter. Anson Funds Management LP now owns 3,839,886 shares of the company’s stock worth $3,955,000 after acquiring an additional 89,436 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Spero Therapeutics by 13.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,105,591 shares of the company’s stock valued at $1,139,000 after buying an additional 130,938 shares in the last quarter. ADAR1 Capital Management LLC grew its position in Spero Therapeutics by 7.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 801,277 shares of the company’s stock worth $825,000 after buying an additional 57,818 shares during the last quarter. Monimus Capital Management LP purchased a new stake in Spero Therapeutics during the fourth quarter valued at about $320,000. Finally, Mackenzie Financial Corp lifted its holdings in shares of Spero Therapeutics by 487.9% in the fourth quarter. Mackenzie Financial Corp now owns 187,559 shares of the company’s stock valued at $193,000 after purchasing an additional 155,656 shares in the last quarter. 25.60% of the stock is owned by institutional investors and hedge funds.

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.