Spero Therapeutics, Inc. (NASDAQ:SPRO – Get Rating) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 1,650,000 shares, a decline of 55.3% from the April 30th total of 3,690,000 shares. Approximately 6.8% of the shares of the stock are sold short. Based on an average daily volume of 634,900 shares, the short-interest ratio is presently 2.6 days.
In other news, major shareholder Aquilo Capital Management, Llc bought 39,727 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were acquired at an average cost of $5.24 per share, with a total value of $208,169.48. Following the completion of the transaction, the insider now directly owns 5,321,231 shares in the company, valued at approximately $27,883,250.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.45% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Spero Therapeutics by 1.3% during the third quarter. BlackRock Inc. now owns 1,802,528 shares of the company’s stock worth $33,185,000 after acquiring an additional 23,706 shares during the period. Vanguard Group Inc. increased its holdings in Spero Therapeutics by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,373,928 shares of the company’s stock valued at $11,953,000 after buying an additional 22,550 shares during the period. Rock Springs Capital Management LP increased its holdings in Spero Therapeutics by 4.8% in the 1st quarter. Rock Springs Capital Management LP now owns 990,913 shares of the company’s stock valued at $8,621,000 after buying an additional 45,600 shares during the period. State Street Corp increased its holdings in Spero Therapeutics by 5.1% in the 4th quarter. State Street Corp now owns 843,955 shares of the company’s stock valued at $13,512,000 after buying an additional 41,264 shares during the period. Finally, Granahan Investment Management Inc. MA increased its holdings in Spero Therapeutics by 67.0% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 555,614 shares of the company’s stock valued at $10,229,000 after buying an additional 222,975 shares during the period. 69.36% of the stock is currently owned by institutional investors and hedge funds.
Spero Therapeutics (NASDAQ:SPRO – Get Rating) last issued its quarterly earnings data on Monday, May 16th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.14). Spero Therapeutics had a negative return on equity of 116.93% and a negative net margin of 792.03%. During the same quarter last year, the firm earned ($0.66) earnings per share. On average, equities research analysts anticipate that Spero Therapeutics will post -2.97 EPS for the current year.
Several research analysts have recently weighed in on SPRO shares. Zacks Investment Research downgraded shares of Spero Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. HC Wainwright decreased their price target on shares of Spero Therapeutics from $37.00 to $10.00 and set a “buy” rating for the company in a report on Monday. Cowen cut shares of Spero Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 4th. Cantor Fitzgerald reduced their target price on shares of Spero Therapeutics from $27.00 to $5.00 in a research note on Tuesday, May 17th. Finally, Berenberg Bank cut shares of Spero Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, May 20th. Four 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 company has a consensus rating of “Hold” and a consensus target price of $23.69.
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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