Spero Therapeutics (NASDAQ:SPRO) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Shares of Spero Therapeutics, Inc. (NASDAQ:SPRO) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.10 and traded as low as $0.75. Spero Therapeutics shares last traded at $0.79, with a volume of 44,946 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on SPRO. Evercore ISI downgraded shares of Spero Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target for the company. in a research note on Friday, December 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Spero Therapeutics in a research note on Friday, November 15th. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Spero Therapeutics in a research note on Thursday, January 30th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Spero Therapeutics in a research note on Monday, November 18th.

Spero Therapeutics Price Performance

The stock’s 50 day simple moving average is $0.85 and its two-hundred day simple moving average is $1.10. The firm has a market cap of $42.65 million, a P/E ratio of 11.18 and a beta of 0.68.

Insider Buying and Selling at Spero Therapeutics

In related news, CEO Sath Shukla sold 155,333 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $0.78, for a total transaction of $121,159.74. Following the completion of the sale, the chief executive officer now owns 1,736,883 shares of the company’s stock, valued at $1,354,768.74. This trade represents a 8.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ankit Mahadevia sold 69,219 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $0.78, for a total transaction of $53,990.82. Following the sale, the director now directly owns 689,866 shares of the company’s stock, valued at $538,095.48. This trade represents a 9.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 245,241 shares of company stock valued at $191,288. Corporate insiders own 4.52% of the company’s stock.

Institutional Investors Weigh In On Spero Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its holdings in Spero Therapeutics by 487.9% in the fourth quarter. Mackenzie Financial Corp now owns 187,559 shares of the company’s stock worth $193,000 after purchasing an additional 155,656 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Spero Therapeutics in the fourth quarter worth approximately $57,000. Anson Funds Management LP boosted its holdings in Spero Therapeutics by 2.4% in the fourth quarter. Anson Funds Management LP now owns 3,839,886 shares of the company’s stock worth $3,955,000 after purchasing an additional 89,436 shares during the last quarter. Jane Street Group LLC purchased a new stake in Spero Therapeutics in the fourth quarter worth approximately $54,000. Finally, Three Seasons Wealth LLC purchased a new stake in Spero Therapeutics in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 25.60% of the company’s stock.

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.