Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) Sees Significant Growth in Short Interest

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 13,528,238 shares, an increase of 36.9% from the November 30th total of 9,881,577 shares. Currently, 17.0% of the company’s shares are sold short. Based on an average daily volume of 24,227,526 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 24,227,526 shares, the days-to-cover ratio is presently 0.6 days. Currently, 17.0% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASBP. Procyon Advisors LLC boosted its stake in shares of Aspire Biopharma by 558.3% during the 2nd quarter. Procyon Advisors LLC now owns 648,411 shares of the company’s stock valued at $174,000 after purchasing an additional 549,911 shares in the last quarter. Crewe Advisors LLC boosted its position in Aspire Biopharma by 100.0% during the 2nd quarter. Crewe Advisors LLC now owns 626,854 shares of the company’s stock valued at $169,000 after acquiring an additional 313,427 shares in the last quarter. Optivise Advisory Services LLC grew its holdings in shares of Aspire Biopharma by 120.9% during the 2nd quarter. Optivise Advisory Services LLC now owns 235,106 shares of the company’s stock worth $63,000 after acquiring an additional 128,660 shares during the period. Jane Street Group LLC grew its holdings in shares of Aspire Biopharma by 625.8% during the 2nd quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock worth $41,000 after acquiring an additional 131,533 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Aspire Biopharma in the 3rd quarter worth approximately $28,000. 19.17% of the stock is currently owned by institutional investors.

Aspire Biopharma Price Performance

ASBP opened at $0.11 on Tuesday. Aspire Biopharma has a one year low of $0.07 and a one year high of $15.80. The business has a 50 day simple moving average of $0.17 and a two-hundred day simple moving average of $0.31. The firm has a market capitalization of $11.61 million, a price-to-earnings ratio of -0.22 and a beta of 0.87.

Aspire Biopharma (NASDAQ:ASBP) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $0.00 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Aspire Biopharma in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Aspire Biopharma Company Profile

Aspire Biopharma Inc is a specialty pharmaceutical company dedicated to developing and commercializing inhaled therapeutics for cardiopulmonary emergencies and respiratory diseases. The firm leverages proprietary formulation and drug-delivery technologies to repurpose established active pharmaceutical ingredients, aiming to enhance onset of action and improve patient convenience in acute settings. Aspire’s focus on pulmonary administration differentiates its approach from traditional oral or injectable treatments for asthma, allergic reactions, and other respiratory conditions.

The company’s lead asset is a reformulated metered-dose inhaler version of epinephrine designed to serve as an over-the-counter or prescription rescue therapy for acute bronchospasm and anaphylaxis.