Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Friday.

Other analysts also recently issued reports about the company. Chardan Capital initiated coverage on Spring Bank Pharmaceuticals in a report on Monday, May 1st. They set a “buy” rating and a $16.50 price target for the company. JMP Securities assumed coverage on shares of Spring Bank Pharmaceuticals in a research report on Friday, May 19th. They set a “market perform” rating and a $20.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of Spring Bank Pharmaceuticals in a research report on Wednesday, July 19th. They set an “overweight” rating and a $29.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.25.

Shares of Spring Bank Pharmaceuticals (NASDAQ SBPH) opened at 11.85 on Friday. The stock has a 50 day moving average price of $14.11 and a 200-day moving average price of $11.16. Spring Bank Pharmaceuticals has a one year low of $6.31 and a one year high of $16.97. The company’s market capitalization is $150.46 million.

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In related news, Director Kurt M. Eichler acquired 76,923 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were bought at an average price of $13.00 per share, with a total value of $999,999.00. Following the transaction, the director now directly owns 582,533 shares of the company’s stock, valued at $7,572,929. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Arkowitz acquired 2,500 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were bought at an average cost of $12.24 per share, for a total transaction of $30,600.00. Following the transaction, the director now directly owns 17,086 shares in the company, valued at $209,132.64. The disclosure for this purchase can be found here. Insiders have bought a total of 81,423 shares of company stock worth $1,055,319 in the last three months. Insiders own 17.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SBPH. C WorldWide Group Holding A S bought a new position in Spring Bank Pharmaceuticals during the second quarter worth about $340,000. Private Capital Advisors Inc. boosted its position in Spring Bank Pharmaceuticals by 50.0% in the second quarter. Private Capital Advisors Inc. now owns 56,250 shares of the company’s stock worth $762,000 after buying an additional 18,750 shares during the period. Morse Asset Management Inc boosted its position in Spring Bank Pharmaceuticals by 156.9% in the second quarter. Morse Asset Management Inc now owns 63,700 shares of the company’s stock worth $862,000 after buying an additional 38,900 shares during the period. Sphera Funds Management LTD. bought a new position in Spring Bank Pharmaceuticals during the second quarter worth about $2,370,000. Finally, AXA bought a new position in Spring Bank Pharmaceuticals during the second quarter worth about $2,894,000. 9.82% of the stock is currently owned by institutional investors.

Spring Bank Pharmaceuticals Company Profile

Spring Bank Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of a class of therapeutics using its small molecule nucleic acid hybrid (SMNH) chemistry platform. The Company is developing its SMNH product, SB 9200, for the treatment of viral diseases.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Spring Bank Pharmaceuticals (NASDAQ:SBPH)

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