Spero Therapeutics (NASDAQ:SPRO) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.47 and traded as low as $2.13. Spero Therapeutics shares last traded at $2.17, with a volume of 303,908 shares.

Wall Street Analyst Weigh In

SPRO has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spero Therapeutics in a report on Tuesday, April 21st. Wall Street Zen downgraded Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Spero Therapeutics Price Performance

The stock has a market cap of $125.64 million, a PE ratio of 9.04 and a beta of 1.49. The company has a 50 day moving average price of $2.53 and a two-hundred day moving average price of $2.47.

Spero Therapeutics (NASDAQ:SPRO) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05. Spero Therapeutics had a return on equity of 35.58% and a net margin of 24.90%.The company had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.26 million.

Insider Activity

In other news, insider Esther Rajavelu sold 25,240 shares of Spero Therapeutics stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $2.51, for a total value of $63,352.40. Following the completion of the sale, the insider directly owned 986,851 shares in the company, valued at $2,476,996.01. The trade was a 2.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. bought a new stake in Spero Therapeutics in the 2nd quarter worth approximately $43,000. Millennium Management LLC bought a new position in shares of Spero Therapeutics during the 4th quarter valued at $56,000. Dimensional Fund Advisors LP purchased a new position in shares of Spero Therapeutics in the 3rd quarter worth $55,000. XTX Topco Ltd purchased a new position in shares of Spero Therapeutics in the 2nd quarter worth $100,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Spero Therapeutics in the fourth quarter worth $88,000. Institutional investors own 25.60% of the company’s stock.

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.