Spero Therapeutics, Inc. (NASDAQ:SPRO) Sees Significant Decline in Short Interest

Spero Therapeutics, Inc. (NASDAQ:SPRO) saw a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 715,694 shares, a decline of 24.0% from the January 29th total of 941,659 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 426,955 shares, the short-interest ratio is currently 1.7 days. Based on an average daily trading volume, of 426,955 shares, the short-interest ratio is currently 1.7 days. Currently, 1.3% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SPRO. Wall Street Zen raised Spero Therapeutics from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spero Therapeutics in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Spero Therapeutics has an average rating of “Reduce”.

Spero Therapeutics Price Performance

Spero Therapeutics stock opened at $2.19 on Wednesday. The firm has a market cap of $123.38 million, a P/E ratio of -2.77 and a beta of 1.45. The business has a fifty day moving average of $2.35 and a two-hundred day moving average of $2.25. Spero Therapeutics has a twelve month low of $0.51 and a twelve month high of $3.22.

Insider Buying and Selling

In other news, insider Esther Rajavelu sold 87,917 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $2.36, for a total transaction of $207,484.12. Following the transaction, the insider directly owned 1,012,091 shares of the company’s stock, valued at approximately $2,388,534.76. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by corporate insiders.

Institutional Trading of Spero Therapeutics

A number of institutional investors have recently modified their holdings of SPRO. GSK plc purchased a new position in shares of Spero Therapeutics in the 4th quarter worth approximately $21,414,000. Vanguard Group Inc. boosted its stake in Spero Therapeutics by 2.0% in the third quarter. Vanguard Group Inc. now owns 1,989,855 shares of the company’s stock valued at $3,741,000 after acquiring an additional 39,474 shares in the last quarter. State Street Corp grew its holdings in Spero Therapeutics by 10.1% in the fourth quarter. State Street Corp now owns 210,151 shares of the company’s stock worth $490,000 after purchasing an additional 19,200 shares during the last quarter. Ionic Capital Management LLC increased its position in shares of Spero Therapeutics by 39.2% during the third quarter. Ionic Capital Management LLC now owns 208,725 shares of the company’s stock worth $392,000 after purchasing an additional 58,725 shares in the last quarter. Finally, Intrepid Family Office LLC increased its position in shares of Spero Therapeutics by 50.0% during the fourth quarter. Intrepid Family Office LLC now owns 165,000 shares of the company’s stock worth $384,000 after purchasing an additional 55,000 shares in the last quarter. 25.60% of the stock is currently owned by institutional investors.

Spero Therapeutics Company Profile

Spero Therapeutics is a clinical?stage biopharmaceutical company focused on the discovery and development of novel therapies to address multidrug?resistant bacterial infections. Headquartered in Boston, Massachusetts, the company aims to advance a pipeline of oral and intravenous antibiotic candidates designed to treat serious infectious diseases that pose significant public health challenges.

The company’s lead candidate, tebipenem HBr, is an oral carbapenem antibiotic being developed for the treatment of complicated urinary tract infections caused by resistant Gram?negative pathogens.