Spruce Biosciences (NASDAQ:SPRB) Trading Down 1.6% – What’s Next?

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) traded down 1.6% during trading on Thursday . The stock traded as low as $7.43 and last traded at $7.48. 3,227 shares were traded during mid-day trading, a decline of 100% from the average session volume of 802,052 shares. The stock had previously closed at $7.60.

Spruce Biosciences Price Performance

The firm’s fifty day moving average price is $7.32 and its 200 day moving average price is $13.54. The firm has a market capitalization of $4.20 million, a PE ratio of -7.96 and a beta of 2.43. The company has a current ratio of 5.36, a quick ratio of 5.36 and a debt-to-equity ratio of 0.01.

Institutional Trading of Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC acquired a new stake in Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 and hedge funds own 91.71% of the company’s stock.

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.