Spruce Biosciences, Inc. (NASDAQ:SPRB) Short Interest Up 81.4% in February

Spruce Biosciences, Inc. (NASDAQ:SPRB) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 447,300 shares, a growth of 81.4% from the January 31st total of 246,600 shares. Based on an average daily trading volume, of 592,800 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of Spruce Biosciences

A hedge fund recently bought a new stake in Spruce Biosciences stock. Boothbay Fund Management LLC purchased a new stake in Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned 0.70% of Spruce Biosciences at the end of the most recent reporting period. 91.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPRB has been the topic of a number of research reports. Oppenheimer reiterated a “market perform” rating on shares of Spruce Biosciences in a research report on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of Spruce Biosciences in a research report on Thursday, December 12th. Citizens Jmp cut Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. JMP Securities restated a “market perform” rating and issued a $3.00 target price on shares of Spruce Biosciences in a report on Wednesday, December 11th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Spruce Biosciences in a report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.38.

Spruce Biosciences Stock Performance

Shares of Spruce Biosciences stock traded up $0.01 during midday trading on Friday, hitting $0.39. The company had a trading volume of 178,001 shares, compared to its average volume of 457,595. Spruce Biosciences has a 1-year low of $0.34 and a 1-year high of $5.95. The business’s 50 day simple moving average is $0.39 and its two-hundred day simple moving average is $0.45. The stock has a market cap of $16.07 million, a PE ratio of -0.41 and a beta of 2.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36.

About Spruce Biosciences

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.