Aspire Biopharma (NASDAQ:ASBP) Announces Earnings Results

Aspire Biopharma (NASDAQ:ASBP) issued its earnings results on Thursday. The company reported ($1.22) EPS for the quarter, FiscalAI reports. The company had revenue of $0.06 million during the quarter.

Aspire Biopharma Stock Performance

NASDAQ ASBP traded down $0.02 during mid-day trading on Thursday, reaching $7.11. 10,162 shares of the stock were exchanged, compared to its average volume of 351,568. The company has a market capitalization of $9.24 million, a P/E ratio of -0.06 and a beta of 0.11. The business’s 50 day moving average is $6.43 and its 200-day moving average is $19.29. Aspire Biopharma has a 1 year low of $3.31 and a 1 year high of $1,050.36.

Hedge Funds Weigh In On Aspire Biopharma

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its stake in Aspire Biopharma by 625.8% in the 2nd quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock valued at $41,000 after acquiring an additional 131,533 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Aspire Biopharma during the third quarter valued at $28,000. Finally, XTX Topco Ltd lifted its holdings in Aspire Biopharma by 853.2% during the fourth quarter. XTX Topco Ltd now owns 265,471 shares of the company’s stock valued at $35,000 after purchasing an additional 237,620 shares in the last quarter. Hedge funds and other institutional investors own 19.17% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Aspire Biopharma in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Aspire Biopharma Company Profile

Aspire Biopharma Inc is a specialty pharmaceutical company dedicated to developing and commercializing inhaled therapeutics for cardiopulmonary emergencies and respiratory diseases. The firm leverages proprietary formulation and drug-delivery technologies to repurpose established active pharmaceutical ingredients, aiming to enhance onset of action and improve patient convenience in acute settings. Aspire’s focus on pulmonary administration differentiates its approach from traditional oral or injectable treatments for asthma, allergic reactions, and other respiratory conditions.

The company’s lead asset is a reformulated metered-dose inhaler version of epinephrine designed to serve as an over-the-counter or prescription rescue therapy for acute bronchospasm and anaphylaxis.