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

Spero Therapeutics, Inc. (NASDAQ:SPRO) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 574,027 shares, a decrease of 19.8% from the February 12th total of 715,694 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 270,567 shares, the short-interest ratio is presently 2.1 days. Based on an average daily trading volume, of 270,567 shares, the short-interest ratio is presently 2.1 days. Approximately 1.1% of the company’s shares are sold short.

Spero Therapeutics Stock Down 0.4%

Shares of NASDAQ SPRO traded down $0.01 during trading on Friday, hitting $2.58. 200,259 shares of the company traded hands, compared to its average volume of 300,505. Spero Therapeutics has a 1 year low of $0.51 and a 1 year high of $3.22. The company has a 50-day moving average price of $2.37 and a 200-day moving average price of $2.28. The firm has a market capitalization of $145.36 million, a P/E ratio of -3.27 and a beta of 1.45.

Analyst Ratings Changes

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

Insider Activity

In related 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 sale, the insider owned 1,012,091 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Spero Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GSK plc acquired a new position in shares of Spero Therapeutics in the 4th quarter valued at about $21,414,000. Vanguard Group Inc. raised its holdings 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 buying an additional 39,474 shares during the period. State Street Corp raised 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 valued at $490,000 after buying an additional 19,200 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Spero Therapeutics during the third quarter valued at approximately $283,000. Finally, Squarepoint Ops LLC acquired a new position in Spero Therapeutics during the fourth quarter valued at approximately $278,000. 25.60% of the stock is currently owned by institutional investors and hedge funds.

About Spero Therapeutics

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.