Spero Therapeutics (NASDAQ:SPRO) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Spero Therapeutics, Inc. (NASDAQ:SPRO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.02 and traded as high as $2.47. Spero Therapeutics shares last traded at $2.35, with a volume of 704,076 shares.

Analyst Ratings Changes

A number of research firms have recently commented on SPRO. Zacks Research downgraded Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Spero Therapeutics in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.00.

Spero Therapeutics Price Performance

The firm’s 50 day moving average price is $2.13 and its two-hundred day moving average price is $2.02. The firm has a market cap of $132.26 million, a price-to-earnings ratio of -2.40 and a beta of 1.55.

Spero Therapeutics (NASDAQ:SPRO) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.35. Spero Therapeutics had a negative return on equity of 120.27% and a negative net margin of 110.35%.The firm had revenue of $14.19 million during the quarter, compared to the consensus estimate of $11.00 million. On average, analysts anticipate that Spero Therapeutics, Inc. will post -1.2 earnings per share for the current year.

Hedge Funds Weigh In On Spero Therapeutics

Several institutional investors have recently bought and sold shares of SPRO. Axxcess Wealth Management LLC purchased a new stake in shares of Spero Therapeutics in the second quarter valued at about $94,000. Anson Funds Management LP raised its holdings in Spero Therapeutics by 98.9% during the first quarter. Anson Funds Management LP now owns 7,638,818 shares of the company’s stock worth $5,500,000 after purchasing an additional 3,798,932 shares in the last quarter. Mackenzie Financial Corp lifted its position in Spero Therapeutics by 11.4% in the first quarter. Mackenzie Financial Corp now owns 209,031 shares of the company’s stock valued at $151,000 after purchasing an additional 21,472 shares during the period. Capital Asset Advisory Services LLC purchased a new stake in Spero Therapeutics in the 2nd quarter valued at approximately $94,000. Finally, XTX Topco Ltd purchased a new stake in Spero Therapeutics in the 2nd quarter valued at approximately $100,000. 25.60% of the stock is owned by institutional investors and hedge funds.

About Spero Therapeutics

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.