Spero Therapeutics (NASDAQ:SPRO) Upgraded to “Outperform” by Evercore ISI

Spero Therapeutics (NASDAQ:SPROGet Rating) was upgraded by Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Thursday, September 22nd, Marketbeat.com reports. The firm presently has a $8.00 price target on the stock. Evercore ISI’s target price indicates a potential upside of 296.04% from the stock’s current price. The analysts noted that the move was a valuation call.

Separately, HC Wainwright lowered their target price on shares of Spero Therapeutics from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, August 15th.

Spero Therapeutics Trading Up 1.0 %

Shares of NASDAQ:SPRO traded up $0.02 during trading on Thursday, reaching $2.02. The stock had a trading volume of 2,864,999 shares, compared to its average volume of 2,804,146. Spero Therapeutics has a one year low of $0.68 and a one year high of $18.84. The company has a market capitalization of $70.84 million, a P/E ratio of -0.58 and a beta of 0.80. The firm’s 50-day simple moving average is $1.05 and its 200 day simple moving average is $2.44.

Insider Transactions at Spero Therapeutics

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SPRO. Rock Springs Capital Management LP grew its position in Spero Therapeutics by 4.8% during the 1st quarter. Rock Springs Capital Management LP now owns 990,913 shares of the company’s stock worth $8,621,000 after acquiring an additional 45,600 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Spero Therapeutics during the 1st quarter worth approximately $225,000. Eversept Partners LP bought a new stake in shares of Spero Therapeutics in the 1st quarter valued at about $519,000. AQR Capital Management LLC acquired a new stake in Spero Therapeutics during the 2nd quarter valued at $115,000. Finally, XTX Topco Ltd bought a new position in Spero Therapeutics in the 1st quarter valued at about $115,000. Hedge funds and other institutional investors own 57.38% of the company’s stock.

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.

Recommended Stories

Receive News & Ratings for Spero Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spero Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.