Spero Therapeutics (NASDAQ:SPRO) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.35 and traded as high as $2.36. Spero Therapeutics shares last traded at $2.32, with a volume of 376,407 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SPRO shares. Wall Street Zen upgraded Spero Therapeutics from a “hold” rating to a “buy” rating in a research report on Sunday, January 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Spero Therapeutics in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Spero Therapeutics Stock Up 0.9%

The company has a market cap of $130.71 million, a PE ratio of -2.94 and a beta of 1.45. The stock has a 50-day moving average of $2.35 and a 200-day moving average of $2.26.

Insider Transactions at Spero Therapeutics

In other Spero Therapeutics news, insider Esther Rajavelu sold 87,917 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $2.36, for a total value of $207,484.12. Following the completion of the transaction, the insider owned 1,012,091 shares of the company’s stock, valued at $2,388,534.76. The trade was a 7.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is currently owned by insiders.

Institutional Trading of Spero Therapeutics

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in Spero Therapeutics in the second quarter worth $100,000. Quadrature Capital Ltd purchased a new stake in Spero Therapeutics during the second quarter valued at about $90,000. Invesco Ltd. bought a new stake in Spero Therapeutics during the second quarter worth about $43,000. Stonepine Capital Management LLC bought a new stake in Spero Therapeutics during the second quarter worth about $455,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Spero Therapeutics in the 3rd quarter worth about $70,000. 25.60% of the stock is owned by institutional investors.

About Spero Therapeutics

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.