Spero Therapeutics (NASDAQ:SPRO) Shares Cross Below Two Hundred Day Moving Average of $1.49

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.49 and traded as low as $1.32. Spero Therapeutics shares last traded at $1.34, with a volume of 106,226 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SPRO. Cantor Fitzgerald reissued an “overweight” rating on shares of Spero Therapeutics in a research report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Spero Therapeutics in a research note on Tuesday, August 6th. Finally, TD Cowen raised Spero Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.

Spero Therapeutics Trading Down 2.2 %

The firm’s fifty day simple moving average is $1.34 and its 200 day simple moving average is $1.49. The company has a market cap of $72.34 million, a price-to-earnings ratio of 3.12 and a beta of 0.63.

Spero Therapeutics (NASDAQ:SPRO) last issued its earnings results on Monday, August 5th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01. Spero Therapeutics had a net margin of 14.74% and a return on equity of 25.67%. The firm had revenue of $10.20 million during the quarter, compared to the consensus estimate of $9.80 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. As a group, sell-side analysts expect that Spero Therapeutics, Inc. will post -1.59 EPS for the current year.

Institutional Investors Weigh In On Spero Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Spero Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,653,432 shares of the company’s stock valued at $2,844,000 after purchasing an additional 9,675 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Spero Therapeutics by 40.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,071,860 shares of the company’s stock valued at $1,392,000 after buying an additional 309,262 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Spero Therapeutics in the 4th quarter valued at $1,570,000. Renaissance Technologies LLC raised its stake in Spero Therapeutics by 14.2% during the 2nd quarter. Renaissance Technologies LLC now owns 975,952 shares of the company’s stock worth $1,269,000 after acquiring an additional 121,492 shares in the last quarter. Finally, Murchinson Ltd. lifted its position in Spero Therapeutics by 1.3% in the first quarter. Murchinson Ltd. now owns 873,910 shares of the company’s stock valued at $1,503,000 after acquiring an additional 11,210 shares during the last quarter. Institutional investors and hedge funds own 25.60% of the company’s stock.

About Spero Therapeutics

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.