Spero Therapeutics (NASDAQ:SPRO) Stock Crosses Below 200-Day Moving Average – Here’s Why

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.45 and traded as low as $1.52. Spero Therapeutics shares last traded at $1.57, with a volume of 2,614,231 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPRO. Wall Street Zen cut shares of Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spero Therapeutics in a research note on Tuesday, April 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Spero Therapeutics has a consensus rating of “Reduce”.

Spero Therapeutics Stock Down 7.6%

The company’s 50-day moving average is $2.46 and its two-hundred day moving average is $2.45. The company has a market capitalization of $90.90 million, a P/E ratio of 6.54 and a beta of 1.49.

Spero Therapeutics (NASDAQ:SPRO) last announced its earnings results on Wednesday, May 13th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. Spero Therapeutics had a net margin of 24.90% and a return on equity of 35.58%. The business had revenue of $0.26 million for the quarter, compared to the consensus estimate of $0.26 million.

Insider Buying and Selling at Spero Therapeutics

In other news, insider Esther Rajavelu sold 25,240 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $2.51, for a total transaction of $63,352.40. Following the sale, the insider owned 986,851 shares in the company, valued at approximately $2,476,996.01. This trade represents a 2.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in Spero Therapeutics in the fourth quarter valued at $88,000. Millennium Management LLC purchased a new position in shares of Spero Therapeutics in the 4th quarter worth about $56,000. Intrepid Family Office LLC boosted its holdings in shares of Spero Therapeutics by 50.0% in the 4th quarter. Intrepid Family Office LLC now owns 165,000 shares of the company’s stock worth $384,000 after purchasing an additional 55,000 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Spero Therapeutics during the 4th quarter valued at about $278,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Spero Therapeutics during the 4th quarter valued at about $306,000. 25.60% of the stock is currently owned by hedge funds and other institutional investors.

About Spero Therapeutics

Spero Therapeutics is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapies to address multidrug‐resistant bacterial infections. Headquartered in Boston, Massachusetts, the company aims to advance a pipeline of oral and intravenous antibiotic candidates designed to treat serious infectious diseases that pose significant public health challenges.

The company’s lead candidate, tebipenem HBr, is an oral carbapenem antibiotic being developed for the treatment of complicated urinary tract infections caused by resistant Gram‐negative pathogens.