Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) Sees Large Decrease in Short Interest

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 75,959 shares, a drop of 90.8% from the April 30th total of 821,485 shares. Approximately 6.2% of the company’s stock are sold short. Based on an average daily trading volume, of 703,441 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Aspire Biopharma

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC boosted its stake in Aspire Biopharma by 625.8% during the 2nd quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock valued at $41,000 after purchasing an additional 131,533 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Aspire Biopharma during the 3rd quarter valued at about $28,000. Finally, XTX Topco Ltd boosted its stake in Aspire Biopharma by 853.2% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 19.17% of the company’s stock.

Aspire Biopharma Price Performance

Shares of ASBP traded down $0.04 during trading hours on Friday, hitting $5.49. The stock had a trading volume of 160,346 shares, compared to its average volume of 737,408. The firm has a market capitalization of $7.14 million, a P/E ratio of -0.05 and a beta of 0.21. Aspire Biopharma has a 1-year low of $3.31 and a 1-year high of $1,050.36. The firm has a 50 day simple moving average of $15.27 and a 200-day simple moving average of $61.09.

Aspire Biopharma (NASDAQ:ASBP) last released its quarterly earnings results on Friday, May 15th. The company reported ($20.57) earnings per share (EPS) for the quarter. The business had revenue of $0.03 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Aspire Biopharma in a research note on Monday, April 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently 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.