Spero Therapeutics (NASDAQ:SPRO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Spero Therapeutics (NASDAQ:SPRO) from a hold rating to a buy rating in a research note issued to investors on Sunday.

SPRO has been the subject of a number of other reports. Zacks Research downgraded Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spero Therapeutics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.00.

Spero Therapeutics Price Performance

NASDAQ SPRO opened at $2.27 on Friday. The company has a market cap of $127.89 million, a P/E ratio of -2.87 and a beta of 1.48. Spero Therapeutics has a 12 month low of $0.51 and a 12 month high of $3.22. The company has a 50-day moving average of $2.35 and a 200-day moving average of $2.34.

Spero Therapeutics (NASDAQ:SPRO) last released its earnings results on Thursday, November 13th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.12. Spero Therapeutics had a negative net margin of 108.11% and a negative return on equity of 125.91%. The firm had revenue of $5.44 million during the quarter, compared to the consensus estimate of $12.00 million. As a group, equities research analysts anticipate that Spero Therapeutics will post -1.2 EPS for the current year.

Insider Activity

In other Spero Therapeutics news, insider Esther Rajavelu sold 40,270 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $2.37, for a total value of $95,439.90. Following the transaction, the insider directly owned 869,450 shares of the company’s stock, valued at $2,060,596.50. This represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spero Therapeutics

Institutional investors have recently modified their holdings of the stock. Anson Funds Management LP lifted its position in shares of 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 during the last quarter. Capital Asset Advisory Services LLC bought a new stake in Spero Therapeutics in the second quarter valued at about $94,000. Axxcess Wealth Management LLC acquired a new stake in Spero Therapeutics during the second quarter valued at approximately $94,000. XTX Topco Ltd acquired a new stake in Spero Therapeutics during the second quarter valued at approximately $100,000. Finally, Quadrature Capital Ltd bought a new position in Spero Therapeutics during the 2nd quarter worth approximately $90,000. Institutional investors and hedge funds own 25.60% of the company’s stock.

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.