Aspire Biopharma Stock Scheduled to Reverse Split on Monday, May 11th (NASDAQ:ASBP)

Shares of Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) are going to reverse split on Monday, May 11th. The 1-30 reverse split was announced on Thursday, May 7th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 8th.

Aspire Biopharma Stock Performance

Shares of NASDAQ:ASBP traded down $0.03 during midday trading on Thursday, hitting $0.16. 160,902,912 shares of the company’s stock traded hands, compared to its average volume of 9,635,640. The firm’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $3.58. Aspire Biopharma has a twelve month low of $0.12 and a twelve month high of $35.01. The company has a market cap of $778,720.00, a PE ratio of -0.01 and a beta of 0.21.

Aspire Biopharma (NASDAQ:ASBP) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $0.00 million during the quarter.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ASBP shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aspire Biopharma in a research report on Monday, April 20th. Wall Street Zen upgraded shares of Aspire Biopharma to a “sell” rating in a report on Saturday, January 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC raised its stake in shares of Aspire Biopharma by 625.8% in the 2nd 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 in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Aspire Biopharma in the third quarter valued at about $28,000. Finally, XTX Topco Ltd raised its stake in Aspire Biopharma by 853.2% during the fourth quarter. XTX Topco Ltd now owns 265,471 shares of the company’s stock valued at $35,000 after buying an additional 237,620 shares in the last quarter. 19.17% of the stock is owned by institutional investors and hedge funds.

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.