Short Interest in Spero Therapeutics, Inc. (NASDAQ:SPRO) Expands By 61.5%

Spero Therapeutics, Inc. (NASDAQ:SPRO) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 625,200 shares, an increase of 61.5% from the October 15th total of 387,100 shares. Based on an average daily volume of 208,600 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Investors Weigh In On Spero Therapeutics

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Spero Therapeutics during the 1st quarter valued at $31,000. Renaissance Technologies LLC boosted its position in Spero Therapeutics by 14.2% during the second quarter. Renaissance Technologies LLC now owns 975,952 shares of the company’s stock valued at $1,269,000 after purchasing an additional 121,492 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Spero Therapeutics by 121.8% in the first quarter. Acadian Asset Management LLC now owns 762,598 shares of the company’s stock worth $1,310,000 after buying an additional 418,742 shares during the last quarter. Murchinson Ltd. raised its holdings in shares of Spero Therapeutics by 1.3% during the 1st quarter. Murchinson Ltd. now owns 873,910 shares of the company’s stock valued at $1,503,000 after purchasing an additional 11,210 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Spero Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,653,432 shares of the company’s stock worth $2,844,000 after buying an additional 9,675 shares during the last quarter. Institutional investors own 25.60% of the company’s stock.

Spero Therapeutics Stock Down 0.8 %

SPRO stock traded down $0.01 during mid-day trading on Wednesday, reaching $1.31. The company had a trading volume of 81,229 shares, compared to its average volume of 216,114. The stock’s 50-day simple moving average is $1.30 and its two-hundred day simple moving average is $1.37. The stock has a market capitalization of $70.73 million, a P/E ratio of 3.98 and a beta of 0.63. Spero Therapeutics has a one year low of $1.01 and a one year high of $1.89.

Analysts Set New Price Targets

SPRO has been the subject of several research reports. TD Cowen upgraded shares of Spero Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Spero Therapeutics in a report on Tuesday, August 6th. Finally, HC Wainwright cut their price objective on Spero Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, November 4th.

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.