Insider Buying: Spring Bank Pharmaceuticals, Inc. (SBPH) Insider Acquires 1,000 Shares of Stock
Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) insider Martin J. Driscoll bought 1,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was purchased at an average price of $14.84 per share, with a total value of $14,840.00. Following the transaction, the insider now owns 55,400 shares in the company, valued at approximately $822,136. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) traded up 0.89% during mid-day trading on Thursday, hitting $14.75. The company had a trading volume of 4,709 shares. The firm’s 50 day moving average is $14.24 and its 200-day moving average is $12.26. The firm’s market cap is $187.28 million. Spring Bank Pharmaceuticals, Inc. has a 12-month low of $6.31 and a 12-month high of $14.96.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Sphera Funds Management LTD. bought a new position in Spring Bank Pharmaceuticals during the second quarter valued at about $2,370,000. Parsons Capital Management Inc. RI increased its stake in Spring Bank Pharmaceuticals by 19.6% during the first quarter. Parsons Capital Management Inc. RI now owns 233,443 shares of the company’s stock valued at $2,078,000 after acquiring an additional 38,278 shares during the period. Private Capital Advisors Inc. increased its stake in Spring Bank Pharmaceuticals by 50.0% during the second quarter. Private Capital Advisors Inc. now owns 56,250 shares of the company’s stock valued at $762,000 after acquiring an additional 18,750 shares during the period. Morse Asset Management Inc grew its stake in shares of Spring Bank Pharmaceuticals by 156.9% in the 2nd quarter. Morse Asset Management Inc now owns 63,700 shares of the company’s stock valued at $862,000 after purchasing an additional 38,900 shares during the period. Finally, C WorldWide Group Holding A S bought a new stake in shares of Spring Bank Pharmaceuticals in the 2nd quarter valued at approximately $340,000. Hedge funds and other institutional investors own 28.26% of the company’s stock.
Several research analysts have recently commented on SBPH shares. Chardan Capital decreased their target price on Spring Bank Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, August 1st. Dawson James reiterated a “buy” rating on shares of Spring Bank Pharmaceuticals in a research report on Monday, August 7th. ValuEngine upgraded Spring Bank Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. JMP Securities started coverage on Spring Bank Pharmaceuticals in a research report on Friday, May 19th. They issued a “market perform” rating and a $20.00 target price for the company. Finally, Cantor Fitzgerald started coverage on Spring Bank Pharmaceuticals in a research report on Wednesday, July 19th. They issued an “overweight” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $26.33.
Spring Bank Pharmaceuticals Company Profile
Spring Bank Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of a class of therapeutics using its small molecule nucleic acid hybrid (SMNH) chemistry platform. The Company is developing its SMNH product, SB 9200, for the treatment of viral diseases.
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