Spero Therapeutics (NASDAQ:SPRO) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Spero Therapeutics, Inc. (NASDAQ:SPRO) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.06 and traded as low as $0.80. Spero Therapeutics shares last traded at $0.82, with a volume of 436,097 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SPRO shares. Evercore ISI downgraded Spero Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target on the stock. in a research report on Friday, December 20th. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Spero Therapeutics in a research note on Thursday, January 30th.

Spero Therapeutics Price Performance

The stock’s 50 day moving average is $0.82 and its two-hundred day moving average is $1.06. The stock has a market capitalization of $48.52 million, a PE ratio of 12.72 and a beta of 0.68.

Insiders Place Their Bets

In related news, Director Ankit Mahadevia sold 69,219 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $0.78, for a total transaction of $53,990.82. Following the sale, the director now owns 689,866 shares of the company’s stock, valued at $538,095.48. This trade represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sath Shukla sold 155,333 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $0.78, for a total value of $121,159.74. Following the sale, the chief executive officer now owns 1,736,883 shares of the company’s stock, valued at approximately $1,354,768.74. The trade was a 8.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,241 shares of company stock worth $191,288. 4.52% of the stock is owned by company insiders.

Institutional Trading of Spero Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in Spero Therapeutics by 487.9% during the 4th quarter. Mackenzie Financial Corp now owns 187,559 shares of the company’s stock worth $193,000 after buying an additional 155,656 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Spero Therapeutics during the fourth quarter valued at $57,000. Anson Funds Management LP raised its holdings in shares of Spero Therapeutics by 2.4% during the fourth quarter. Anson Funds Management LP now owns 3,839,886 shares of the company’s stock valued at $3,955,000 after acquiring an additional 89,436 shares during the period. Jane Street Group LLC acquired a new stake in shares of Spero Therapeutics in the fourth quarter worth $54,000. Finally, Three Seasons Wealth LLC acquired a new stake in Spero Therapeutics during the 4th quarter worth about $31,000. Institutional investors own 25.60% of the company’s stock.

Spero Therapeutics Company Profile

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States. The company’s product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults; SPR206, an intravenous-administered antibiotic against MDR Gram-negative pathogens comprising carbapenem-resistant enterobacterales (CRE), acinetobacter baumannii, and pseudomonas aeruginosa, as well as negative bacterial infections in the hospital setting; and SPR720, a novel oral antibiotic agent for the treatment of non-tuberculous mycobacterial pulmonary disease.