Spero Therapeutics (NASDAQ:SPRO) Stock Price Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Spero Therapeutics shares fell below their 200-day moving average, reaching as low as $1.1650 and last trading at $1.18, compared with a 200-day average of $1.94.
• Analyst sentiment is largely neutral: the stock has one Buy rating and three Hold ratings, with a consensus price target of $6.00.
• Institutional investors, including Alphabet and BlackRock, recently initiated positions, while hedge funds and other institutions collectively own 25.6% of the company.

Shares of Spero Therapeutics, Inc. (NASDAQ:SPRO - Get Free Report) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $1.94 and traded as low as $1.1650. Spero Therapeutics shares last traded at $1.18, with a volume of 414,066 shares changing hands.

Analyst Upgrades and Downgrades

SPRO has been the topic of a number of recent research reports. Zacks Research raised shares of Spero Therapeutics to a "hold" rating in a research report on Monday, September 14th. Weiss Ratings upgraded shares of Spero Therapeutics from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. Compass Point raised shares of Spero Therapeutics to a "neutral" rating in a research report on Monday, September 14th. Finally, HC Wainwright boosted their price objective on shares of Spero Therapeutics from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Monday, September 14th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $6.00.

Spero Therapeutics Price Performance

The stock has a market capitalization of $68.72 million, a PE ratio of 10.73 and a beta of 1.50. The business has a 50 day moving average price of $1.20 and a 200 day moving average price of $1.94.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Spero Therapeutics had a return on equity of 16.17% and a net margin of 24.90%. On average, equities analysts expect that Spero Therapeutics, Inc. will post -0.58 earnings per share for the current year.

Institutional Trading of Spero Therapeutics

Institutional investors have recently bought and sold shares of the company. Alphabet Inc. purchased a new position in Spero Therapeutics in the second quarter worth about $1,967,000. BlackRock Inc. bought a new position in shares of Spero Therapeutics in the second quarter worth approximately $1,314,000. GSA Capital Partners LLP bought a new position in shares of Spero Therapeutics in the second quarter worth approximately $632,000. Intrepid Family Office LLC grew its holdings in shares of Spero Therapeutics by 50.0% during the fourth quarter. Intrepid Family Office LLC now owns 165,000 shares of the company's stock valued at $384,000 after buying an additional 55,000 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Spero Therapeutics during the second quarter valued at approximately $55,000. 25.60% of the stock is owned by hedge funds and other institutional investors.

About Spero Therapeutics

Spero Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious bacterial infections and other infectious diseases. The company's research programs are aimed at addressing drug-resistant pathogens and conditions for which existing therapies may be limited.

Spero's pipeline has included tebipenem pivoxil hydrobromide, an orally administered carbapenem antibiotic being developed for complicated urinary tract infections, including pyelonephritis.

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