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

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s share price crossed 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 changing hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Spero Therapeutics in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Spero Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Spero Therapeutics Stock Up 0.9%

The firm’s 50-day simple moving average is $2.35 and its 200-day simple moving average is $2.26. The firm has a market capitalization of $130.71 million, a PE ratio of -2.94 and a beta of 1.45.

Insider Buying and Selling at Spero Therapeutics

In related news, insider Esther Rajavelu sold 87,917 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $2.36, for a total transaction of $207,484.12. Following the completion of the sale, the insider directly owned 1,012,091 shares in the company, valued at $2,388,534.76. This represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Spero Therapeutics

A number of large investors have recently bought and sold shares of the stock. GSK plc bought a new stake in Spero Therapeutics in the fourth quarter valued at approximately $21,414,000. Vanguard Group Inc. increased its stake in shares of Spero Therapeutics by 2.0% in the third quarter. Vanguard Group Inc. now owns 1,989,855 shares of the company’s stock worth $3,741,000 after buying an additional 39,474 shares during the period. State Street Corp increased its stake in shares of Spero Therapeutics by 10.1% in the fourth quarter. State Street Corp now owns 210,151 shares of the company’s stock worth $490,000 after buying an additional 19,200 shares during the period. Ionic Capital Management LLC raised its holdings in Spero Therapeutics by 39.2% during the 3rd quarter. Ionic Capital Management LLC now owns 208,725 shares of the company’s stock valued at $392,000 after buying an additional 58,725 shares during the last quarter. Finally, Intrepid Family Office LLC raised its holdings in Spero Therapeutics by 50.0% during the 4th quarter. Intrepid Family Office LLC now owns 165,000 shares of the company’s stock valued at $384,000 after buying an additional 55,000 shares during the last quarter. 25.60% of the stock is owned by hedge funds and other 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.