AWM Investment Company Inc. purchased a new position in Spruce Biosciences, Inc. (NASDAQ:SPRB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 146,988 shares of the company's stock, valued at approximately $7,937,000. AWM Investment Company Inc. owned 5.12% of Spruce Biosciences at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ikarian Capital LLC raised its position in shares of Spruce Biosciences by 810.3% during the 4th quarter. Ikarian Capital LLC now owns 121,356 shares of the company's stock worth $10,571,000 after purchasing an additional 108,024 shares during the last quarter. Squadron Capital Management LLC acquired a new stake in Spruce Biosciences during the 4th quarter valued at $6,098,000. Wellington Management Group LLP purchased a new position in Spruce Biosciences during the fourth quarter worth $5,135,000. ADAR1 Capital Management LLC increased its position in Spruce Biosciences by 1.0% during the first quarter. ADAR1 Capital Management LLC now owns 58,600 shares of the company's stock worth $3,830,000 after buying an additional 600 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Spruce Biosciences in the fourth quarter worth $4,501,000. 91.71% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on SPRB shares. Weiss Ratings downgraded shares of Spruce Biosciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 12th. The Goldman Sachs Group raised shares of Spruce Biosciences to an "overweight" rating in a research note on Thursday, August 13th. Wall Street Zen downgraded Spruce Biosciences from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. JonesTrading assumed coverage on Spruce Biosciences in a research note on Tuesday, June 9th. They set a "buy" rating and a $135.00 price target on the stock. Finally, Oppenheimer restated an "outperform" rating on shares of Spruce Biosciences in a report on Wednesday, May 27th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $159.50.
View Our Latest Stock Analysis on SPRB
Spruce Biosciences Stock Performance
Shares of NASDAQ:SPRB opened at $63.40 on Wednesday. The business's 50-day simple moving average is $49.19 and its 200 day simple moving average is $55.58. The company has a market cap of $181.96 million, a P/E ratio of -1.59 and a beta of 3.23. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.23 and a current ratio of 9.23. Spruce Biosciences, Inc. has a one year low of $7.00 and a one year high of $240.00.
Spruce Biosciences (NASDAQ:SPRB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($6.68) earnings per share for the quarter, missing analysts' consensus estimates of ($5.79) by ($0.89). On average, sell-side analysts forecast that Spruce Biosciences, Inc. will post -25.14 earnings per share for the current fiscal year.
Spruce Biosciences Company Profile
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Free Report)
Spruce Biosciences, Inc is a clinical-stage biopharmaceutical company dedicated to developing therapies for rare endocrine and dermatological disorders. Headquartered in San Diego, California, Spruce focuses on conditions with significant unmet medical needs, employing a precision medicine approach to identify and advance treatment candidates through late-stage clinical trials.
The company's lead asset, tildacerfont, is an oral corticotropin-releasing factor type 1 (CRF1) receptor antagonist being evaluated for the treatment of congenital adrenal hyperplasia (CAH), a genetic disorder characterized by insufficient cortisol production and excess androgen levels.
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