Spero Therapeutics (NASDAQ:SPRO) Stock Crosses Below 200 Day Moving Average – What’s Next?

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.47 and traded as low as $2.13. Spero Therapeutics shares last traded at $2.17, with a volume of 303,908 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPRO. Wall Street Zen lowered shares of Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spero Therapeutics in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Spero Therapeutics Trading Up 0.5%

The company’s fifty day simple moving average is $2.53 and its 200 day simple moving average is $2.47. The firm has a market capitalization of $125.64 million, a P/E ratio of 9.04 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 firm had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.26 million.

Insiders Place Their Bets

In other Spero Therapeutics news, insider Esther Rajavelu sold 25,240 shares of Spero Therapeutics stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $2.51, for a total transaction of $63,352.40. Following the sale, the insider directly owned 986,851 shares of the company’s stock, valued at approximately $2,476,996.01. The trade was a 2.49% decrease in their position. The transaction was disclosed in a legal 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. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Spero Therapeutics

Several hedge funds have recently made changes to their positions in SPRO. GSK plc purchased a new stake in Spero Therapeutics in the fourth quarter worth $21,414,000. Vanguard Group Inc. lifted its position in Spero Therapeutics by 2.0% during the third quarter. Vanguard Group Inc. now owns 1,989,855 shares of the company’s stock valued at $3,741,000 after buying an additional 39,474 shares during the period. State Street Corp lifted its position in Spero Therapeutics by 10.1% during the fourth quarter. State Street Corp now owns 210,151 shares of the company’s stock valued at $490,000 after buying an additional 19,200 shares during the period. Ionic Capital Management LLC boosted its holdings in shares of Spero Therapeutics by 39.2% during the 3rd quarter. Ionic Capital Management LLC now owns 208,725 shares of the company’s stock valued at $392,000 after buying an additional 58,725 shares in the last quarter. Finally, Intrepid Family Office LLC boosted its holdings in shares of Spero Therapeutics by 50.0% during the 4th quarter. Intrepid Family Office LLC now owns 165,000 shares of the company’s stock valued at $384,000 after buying an additional 55,000 shares in the last quarter. 25.60% of the stock is currently owned by 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.