Spruce Biosciences, Inc. (NASDAQ:SPRB) Short Interest Up 81.4% in February

Spruce Biosciences, Inc. (NASDAQ:SPRB) was the recipient of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 447,300 shares, a growth of 81.4% from the January 31st total of 246,600 shares. Based on an average daily volume of 592,800 shares, the short-interest ratio is presently 0.8 days.

Wall Street Analyst Weigh In

SPRB has been the subject of a number of recent research reports. HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a report on Monday, December 16th. Citizens Jmp lowered shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. JMP Securities reiterated a “market perform” rating and set a $3.00 price target on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Guggenheim restated a “neutral” rating on shares of Spruce Biosciences in a research report on Thursday, December 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $1.50 target price (down previously from $2.00) on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Nine analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.38.

Institutional Investors Weigh In On Spruce Biosciences

A hedge fund recently bought a new stake in Spruce Biosciences stock. Boothbay Fund Management LLC acquired a new stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned about 0.70% of Spruce Biosciences at the end of the most recent reporting period. Institutional investors own 91.71% of the company’s stock.

Spruce Biosciences Trading Down 8.5 %

SPRB opened at $0.36 on Tuesday. Spruce Biosciences has a 1-year low of $0.34 and a 1-year high of $5.95. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $14.70 million, a P/E ratio of -0.38 and a beta of 2.37. The company has a fifty day moving average price of $0.39 and a two-hundred day moving average price of $0.45.

About Spruce Biosciences

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.