Renaissance Technologies LLC Buys 95,100 Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB)

Renaissance Technologies LLC raised its stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) by 35.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 366,100 shares of the company’s stock after purchasing an additional 95,100 shares during the period. Renaissance Technologies LLC owned 0.89% of Spruce Biosciences worth $190,000 as of its most recent SEC filing.

Separately, AWM Investment Company Inc. bought a new stake in Spruce Biosciences during the first quarter valued at about $157,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Spruce Biosciences Price Performance

Shares of Spruce Biosciences stock opened at $0.44 on Friday. The stock’s 50-day simple moving average is $0.45 and its 200-day simple moving average is $0.59. Spruce Biosciences, Inc. has a 52 week low of $0.41 and a 52 week high of $5.95. The company has a market capitalization of $18.35 million, a price-to-earnings ratio of -0.43 and a beta of 2.40. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.02.

Spruce Biosciences (NASDAQ:SPRB) last posted its earnings results on Monday, August 12th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.55 million. Spruce Biosciences had a negative return on equity of 59.94% and a negative net margin of 450.38%. As a group, analysts expect that Spruce Biosciences, Inc. will post -1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HC Wainwright reissued a “neutral” rating on shares of Spruce Biosciences in a report on Monday, August 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $2.00 price objective on shares of Spruce Biosciences in a research report on Tuesday, August 13th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

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.