Short Interest in Spero Therapeutics, Inc. (NASDAQ:SPRO) Drops By 45.6%

Spero Therapeutics, Inc. (NASDAQ:SPRO) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 504,000 shares, a decrease of 45.6% from the August 15th total of 927,200 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 942,100 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 942,100 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SPRO. Jane Street Group LLC purchased a new stake in shares of Spero Therapeutics during the 4th quarter worth approximately $54,000. Squarepoint Ops LLC purchased a new position in shares of Spero Therapeutics in the fourth quarter valued at $57,000. Mackenzie Financial Corp raised its stake in shares of Spero Therapeutics by 487.9% during the 4th quarter. Mackenzie Financial Corp now owns 187,559 shares of the company’s stock worth $193,000 after buying an additional 155,656 shares during the last quarter. Anson Funds Management LP boosted its position in shares of Spero Therapeutics by 98.9% in the 1st quarter. Anson Funds Management LP now owns 7,638,818 shares of the company’s stock worth $5,500,000 after buying an additional 3,798,932 shares in the last quarter. Finally, Capital Asset Advisory Services LLC acquired a new stake in Spero Therapeutics in the 2nd quarter valued at about $94,000. Hedge funds and other institutional investors own 25.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Spero Therapeutics to a “hold” rating in a research report on Saturday, June 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Spero Therapeutics Price Performance

Shares of SPRO stock traded down $0.02 during mid-day trading on Monday, hitting $1.89. The stock had a trading volume of 149,476 shares, compared to its average volume of 1,767,252. The firm has a market cap of $106.09 million, a PE ratio of -1.92 and a beta of 1.47. The company’s 50-day simple moving average is $2.22 and its 200-day simple moving average is $1.64. Spero Therapeutics has a fifty-two week low of $0.51 and a fifty-two week high of $3.22.

Spero Therapeutics (NASDAQ:SPRO) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.35. The business had revenue of $14.19 million for the quarter, compared to analyst estimates of $11.00 million. Spero Therapeutics had a negative net margin of 110.35% and a negative return on equity of 120.27%. On average, analysts expect that Spero Therapeutics will post -1.2 EPS for the current year.

Spero Therapeutics Company Profile

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing novel treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States. The company’s product candidates include tebipenem pivoxil hydrobromide (HBr), an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults; SPR206, an intravenous-administered antibiotic against MDR Gram-negative pathogens comprising carbapenem-resistant enterobacterales (CRE), acinetobacter baumannii, and pseudomonas aeruginosa, as well as negative bacterial infections in the hospital setting; and SPR720, a novel oral antibiotic agent for the treatment of non-tuberculous mycobacterial pulmonary disease.