Insider Selling: Spero Therapeutics (NASDAQ:SPRO) Director Sells 6,572 Shares of Stock

Key Points

• Spero Therapeutics Director Ankit Mahadevia sold 6,572 shares at an average price of $1.97, resulting in a total transaction value of approximately $12,946.84.
• The company's stock has a market cap of $116.50 million and has seen a one-year price range of $0.51 to $3.22.
• Analysts maintain a "Moderate Buy" rating on Spero Therapeutics, with an average price target of $5.00.

Spero Therapeutics, Inc. (NASDAQ:SPRO - Get Free Report) Director Ankit Mahadevia sold 6,572 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $1.97, for a total value of $12,946.84. Following the completion of the sale, the director directly owned 703,294 shares of the company's stock, valued at approximately $1,385,489.18. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Spero Therapeutics Stock Performance

NASDAQ:SPRO opened at $2.07 on Wednesday. Spero Therapeutics, Inc. has a one year low of $0.51 and a one year high of $3.22. The stock has a market cap of $116.50 million, a PE ratio of -2.12 and a beta of 1.46. The stock has a 50 day moving average price of $2.36 and a 200 day moving average price of $1.57.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $11.00 million. As a group, analysts predict that Spero Therapeutics, Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Spero Therapeutics

Several hedge funds have recently modified their holdings of SPRO. 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 during the last quarter. Stonepine Capital Management LLC purchased a new stake in Spero Therapeutics during the second quarter valued at about $455,000. Mackenzie Financial Corp lifted its stake in shares of Spero Therapeutics by 487.9% during the fourth quarter. Mackenzie Financial Corp now owns 187,559 shares of the company's stock worth $193,000 after purchasing an additional 155,656 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Spero Therapeutics by 26,011.9% in the fourth quarter. JPMorgan Chase & Co. now owns 61,624 shares of the company's stock worth $63,000 after acquiring an additional 61,388 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Spero Therapeutics in the fourth quarter worth about $57,000. 25.60% of the stock is owned by institutional investors and hedge funds.

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 equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $5.00.

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.

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