Spero Therapeutics (NASDAQ:SPRO) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.45 and traded as low as $1.52. Spero Therapeutics shares last traded at $1.57, with a volume of 2,614,231 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SPRO shares. Wall Street Zen cut Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spero Therapeutics in a research report on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

Spero Therapeutics Stock Performance

The company has a market cap of $91.48 million, a PE ratio of 6.58 and a beta of 1.49. The firm’s 50 day moving average is $2.44 and its 200-day moving average is $2.44.

Spero Therapeutics (NASDAQ:SPRO) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Spero Therapeutics had a return on equity of 35.58% and a net margin of 24.90%.The business had revenue of $0.26 million during the quarter, compared to analyst estimates of $0.26 million.

Insider Activity at Spero Therapeutics

In other news, insider Esther Rajavelu sold 25,240 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $2.51, for a total transaction of $63,352.40. Following the transaction, the insider owned 986,851 shares of the company’s stock, valued at approximately $2,476,996.01. The trade was a 2.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Spero Therapeutics

A number of institutional investors have recently bought and sold shares of the company. GSK plc purchased a new position in Spero Therapeutics in the fourth quarter worth approximately $21,414,000. Arrowstreet Capital Limited Partnership purchased a new stake in Spero Therapeutics in the third quarter valued at $283,000. OMERS ADMINISTRATION Corp purchased a new stake in Spero Therapeutics in the fourth quarter valued at $306,000. Squarepoint Ops LLC acquired a new position in shares of Spero Therapeutics in the 4th quarter valued at $278,000. Finally, Shay Capital LLC purchased a new position in shares of Spero Therapeutics during the 3rd quarter worth $120,000. 25.60% of the stock is owned by hedge funds and other institutional investors.

Spero Therapeutics Company Profile

Spero Therapeutics is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapies to address multidrug‐resistant bacterial infections. Headquartered in Boston, Massachusetts, the company aims to advance a pipeline of oral and intravenous antibiotic candidates designed to treat serious infectious diseases that pose significant public health challenges.

The company’s lead candidate, tebipenem HBr, is an oral carbapenem antibiotic being developed for the treatment of complicated urinary tract infections caused by resistant Gram‐negative pathogens.