Spring Bank Pharmaceuticals (SBPH) Sets New 52-Week Low at $10.63
Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $10.63 and last traded at $11.06, with a volume of 8289 shares trading hands. The stock had previously closed at $12.01.
Several equities analysts recently weighed in on the company. Piper Jaffray Companies assumed coverage on Spring Bank Pharmaceuticals in a research note on Tuesday, August 14th. They issued an “overweight” rating and a $25.00 price objective for the company. Cantor Fitzgerald set a $35.00 price objective on Spring Bank Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $30.00.
Spring Bank Pharmaceuticals (NASDAQ:SBPH) last released its quarterly earnings data on Thursday, August 2nd. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.22. equities research analysts forecast that Spring Bank Pharmaceuticals Inc will post -1.89 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBPH. Renaissance Technologies LLC purchased a new position in Spring Bank Pharmaceuticals in the 2nd quarter valued at approximately $184,000. Schwab Charles Investment Management Inc. purchased a new position in Spring Bank Pharmaceuticals in the 2nd quarter valued at approximately $293,000. Bank of New York Mellon Corp acquired a new stake in Spring Bank Pharmaceuticals during the 2nd quarter valued at $446,000. Northern Trust Corp grew its holdings in Spring Bank Pharmaceuticals by 103.1% during the 2nd quarter. Northern Trust Corp now owns 37,915 shares of the company’s stock valued at $450,000 after buying an additional 19,246 shares during the last quarter. Finally, C WorldWide Group Holding A S grew its holdings in Spring Bank Pharmaceuticals by 4.9% during the 2nd quarter. C WorldWide Group Holding A S now owns 91,567 shares of the company’s stock valued at $1,085,000 after buying an additional 4,245 shares during the last quarter. 33.82% of the stock is owned by hedge funds and other institutional investors.
Spring Bank Pharmaceuticals Company Profile (NASDAQ:SBPH)
Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapeutics using small molecule nucleic acid hybrid (SMNH) chemistry platform. The company's lead SMNH product candidate is inarigivir soproxil, for the treatment of chronic hepatitis B virus (HBV).
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