Wall Street Zen Downgrades Spero Therapeutics (NASDAQ:SPRO) to Hold

Spero Therapeutics (NASDAQ:SPRO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Spero Therapeutics in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Spero Therapeutics Price Performance

Shares of NASDAQ:SPRO opened at $2.37 on Friday. The company’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.30. The stock has a market capitalization of $133.53 million, a price-to-earnings ratio of -3.00 and a beta of 1.45. Spero Therapeutics has a 1 year low of $0.51 and a 1 year high of $3.22.

Insider Activity

In related news, insider Esther Rajavelu sold 87,917 shares of the company’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 transaction of $207,484.12. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Spero Therapeutics

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