Anson Funds Management LP Buys 3,798,932 Shares of Spero Therapeutics, Inc. $SPRO

Key Points

• Anson Funds Management LP increased its stake in Spero Therapeutics, Inc. by 98.9% during Q1, holding approximately 13.66% of the company, valued at $5.5 million as per their latest SEC filing.
• Spero Therapeutics reported earnings per share of ($0.03) for the quarter, surpassing analysts' expectations, and generated revenue of $14.19 million, exceeding the consensus estimate of $11 million.
• As of now, Spero Therapeutics has an average rating of "Moderate Buy" from analysts with a target price of $5.00, indicating potential for growth despite current challenges.

Anson Funds Management LP boosted its stake in shares of Spero Therapeutics, Inc. (NASDAQ:SPRO - Free Report) by 98.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,638,818 shares of the company's stock after acquiring an additional 3,798,932 shares during the quarter. Spero Therapeutics accounts for 0.8% of Anson Funds Management LP's holdings, making the stock its 26th largest position. Anson Funds Management LP owned approximately 13.66% of Spero Therapeutics worth $5,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SPRO. JPMorgan Chase & Co. lifted its position in Spero Therapeutics by 26,011.9% during the fourth quarter. JPMorgan Chase & Co. now owns 61,624 shares of the company's stock worth $63,000 after buying an additional 61,388 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Spero Therapeutics by 13.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,105,591 shares of the company's stock worth $1,139,000 after buying an additional 130,938 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Spero Therapeutics during the fourth quarter worth approximately $31,000. Three Seasons Wealth LLC purchased a new stake in shares of Spero Therapeutics during the fourth quarter worth approximately $31,000. Finally, Jane Street Group LLC purchased a new stake in shares of Spero Therapeutics in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 25.60% of the company's stock.

Spero Therapeutics Price Performance

Shares of NASDAQ SPRO traded up $0.02 during mid-day trading on Friday, hitting $2.02. The company had a trading volume of 253,396 shares, compared to its average volume of 1,853,318. Spero Therapeutics, Inc. has a 12 month low of $0.51 and a 12 month high of $3.22. The stock has a market cap of $113.40 million, a price-to-earnings ratio of -2.06 and a beta of 1.39. The firm's 50 day simple moving average is $2.41 and its two-hundred day simple moving average is $1.54.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.35. The firm had revenue of $14.19 million for the quarter, compared to analysts' expectations of $11.00 million. Spero Therapeutics had a negative return on equity of 120.27% and a negative net margin of 110.35%. Equities analysts forecast that Spero Therapeutics, Inc. will post -1.2 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Spero Therapeutics to a "hold" rating in a research note on Saturday, June 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Spero Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $5.00.

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.