Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) major shareholder Holdings A/S Novo sold 359,979 shares of Spruce Biosciences stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $0.73, for a total value of $262,784.67. Following the completion of the sale, the insider now owns 3,015,021 shares of the company’s stock, valued at $2,200,965.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Holdings A/S Novo also recently made the following trade(s):
- On Monday, March 18th, Holdings A/S Novo sold 842,020 shares of Spruce Biosciences stock. The shares were sold at an average price of $0.77, for a total value of $648,355.40.
- On Thursday, March 14th, Holdings A/S Novo sold 1,912,316 shares of Spruce Biosciences stock. The shares were sold at an average price of $0.89, for a total value of $1,701,961.24.
Spruce Biosciences Stock Performance
Spruce Biosciences stock opened at $0.76 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.59 and a current ratio of 4.18. The stock’s 50 day simple moving average is $3.80 and its two-hundred day simple moving average is $2.52. Spruce Biosciences, Inc. has a 12 month low of $0.71 and a 12 month high of $5.95.
Institutional Trading of Spruce Biosciences
Analyst Upgrades and Downgrades
SPRB has been the subject of a number of recent research reports. Leerink Partnrs downgraded shares of Spruce Biosciences from an “outperform” rating to a “market perform” rating in a report on Thursday, March 14th. LADENBURG THALM/SH SH downgraded shares of Spruce Biosciences from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Guggenheim downgraded shares of Spruce Biosciences from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Royal Bank of Canada downgraded shares of Spruce Biosciences from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $9.00 to $2.00 in a report on Thursday, March 14th. Finally, SVB Leerink lowered Spruce Biosciences from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $9.00 to $2.00 in a research note on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.67.
View Our Latest Stock Analysis on Spruce Biosciences
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.
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