Spero Therapeutics (NASDAQ:SPRO) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.28 and traded as low as $0.94. Spero Therapeutics shares last traded at $1.03, with a volume of 330,176 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPRO. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Spero Therapeutics in a research note on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Spero Therapeutics in a research report on Monday, December 2nd. TD Cowen reiterated a “hold” rating on shares of Spero Therapeutics in a research report on Monday, November 18th. Finally, 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 report on Friday, December 20th.

Spero Therapeutics Trading Up 9.1 %

The business has a fifty day simple moving average of $1.17 and a two-hundred day simple moving average of $1.27. The company has a market cap of $56.15 million, a PE ratio of 14.72 and a beta of 0.59.

Hedge Funds Weigh In On Spero Therapeutics

An institutional investor recently raised its position in Spero Therapeutics stock. Renaissance Technologies LLC lifted its stake in shares of Spero Therapeutics, Inc. (NASDAQ:SPRO) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 975,952 shares of the company’s stock after purchasing an additional 121,492 shares during the period. Renaissance Technologies LLC owned 1.81% of Spero Therapeutics worth $1,269,000 as of its most recent SEC filing. 25.60% of the stock is owned by hedge funds and other institutional investors.

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.