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

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 123,876 shares, a growth of 63.1% from the May 14th total of 75,959 shares. Based on an average daily trading volume, of 738,378 shares, the days-to-cover ratio is currently 0.2 days. Currently, 10.2% of the company’s shares are sold short.

Aspire Biopharma Trading Up 13.9%

Shares of NASDAQ ASBP opened at $5.65 on Tuesday. The stock has a market cap of $7.35 million, a P/E ratio of -0.05 and a beta of 0.17. The business’s fifty day simple moving average is $10.54 and its 200-day simple moving average is $51.14. Aspire Biopharma has a 12-month low of $3.31 and a 12-month high of $1,050.36.

Aspire Biopharma (NASDAQ:ASBP) last released its earnings results on Friday, May 15th. The company reported ($20.57) EPS for the quarter. The company had revenue of $0.03 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Aspire Biopharma in a research note on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Aspire Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in ASBP. CIBC Bancorp USA Inc. purchased a new stake in Aspire Biopharma during the third quarter worth approximately $28,000. XTX Topco Ltd boosted its holdings in Aspire Biopharma by 853.2% in the fourth quarter. XTX Topco Ltd now owns 265,471 shares of the company’s stock valued at $35,000 after purchasing an additional 237,620 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Aspire Biopharma by 625.8% in the second quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock valued at $41,000 after purchasing an additional 131,533 shares during the last quarter. Institutional investors and hedge funds own 19.17% of the company’s stock.

About Aspire Biopharma

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.