Spero Therapeutics, Inc. (NASDAQ:SPRO) Sees Large Decline in Short Interest

Spero Therapeutics, Inc. (NASDAQ:SPRO) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 513,200 shares, a drop of 21.5% from the March 31st total of 653,800 shares. Based on an average daily trading volume, of 321,500 shares, the days-to-cover ratio is presently 1.6 days.

Analysts Set New Price Targets

Several brokerages have commented on SPRO. Cantor Fitzgerald reissued an “overweight” rating on shares of Spero Therapeutics in a research note on Thursday, April 4th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Spero Therapeutics in a research note on Monday, March 18th.

Spero Therapeutics Stock Down 1.4 %

Spero Therapeutics stock traded down $0.02 during trading hours on Monday, hitting $1.44. The stock had a trading volume of 170,558 shares, compared to its average volume of 290,765. The business’s 50 day simple moving average is $1.63 and its 200-day simple moving average is $1.42. Spero Therapeutics has a one year low of $0.99 and a one year high of $2.00. The stock has a market cap of $77.61 million, a price-to-earnings ratio of 3.43 and a beta of 0.55.

Spero Therapeutics (NASDAQ:SPRO) last issued its quarterly earnings data on Wednesday, March 13th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $1.14. Spero Therapeutics had a net margin of 21.98% and a return on equity of 38.54%. The business had revenue of $73.52 million during the quarter, compared to analyst estimates of $19.40 million. Research analysts anticipate that Spero Therapeutics will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Spero Therapeutics

A hedge fund recently raised its stake in Spero Therapeutics stock. Acadian Asset Management LLC lifted its holdings in Spero Therapeutics, Inc. (NASDAQ:SPRO) by 56.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,024 shares of the company’s stock after acquiring an additional 98,485 shares during the period. Acadian Asset Management LLC owned approximately 0.52% of Spero Therapeutics worth $327,000 as of its most recent filing with the Securities and Exchange Commission. 25.60% of the stock is currently 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.