Spero Therapeutics, Inc. (NASDAQ:SPRO) Sees Large Drop in Short Interest

Key Points

• Spero Therapeutics experienced a 32.8% decline in short interest in August, reducing the total to 927,200 shares, indicating decreased bearish sentiment among investors.
• The stock currently holds an average rating of "Moderate Buy", with analysts setting a consensus price target of $5.00.
• During its latest earnings report, Spero Therapeutics beat EPS expectations, reporting a loss of only ($0.03) compared to the consensus estimate of ($0.38).

Spero Therapeutics, Inc. (NASDAQ:SPRO - Get Free Report) saw a significant decline in short interest in August. As of August 15th, there was short interest totaling 927,200 shares, adeclineof32.8% from the July 31st total of 1,380,000 shares. Based on an average daily trading volume, of 4,440,000 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 4,440,000 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

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

Spero Therapeutics Price Performance

Shares of SPRO traded up $0.01 during mid-day trading on Friday, reaching $2.15. 175,498 shares of the company's stock traded hands, compared to its average volume of 528,207. The stock has a market cap of $121.00 million, a P/E ratio of -2.19 and a beta of 1.46. The stock's 50-day moving average is $2.31 and its two-hundred day moving average is $1.59. Spero Therapeutics has a 12 month low of $0.51 and a 12 month high of $3.22.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $11.00 million. Research analysts predict that Spero Therapeutics will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPRO. Anson Funds Management LP lifted 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 buying an additional 3,798,932 shares during the period. Stonepine Capital Management LLC purchased a new stake in Spero Therapeutics during the second quarter worth $455,000. Mackenzie Financial Corp lifted its holdings in 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 buying an additional 155,656 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Spero Therapeutics during the 4th quarter valued at $57,000. Finally, Jane Street Group LLC purchased a new stake in shares of Spero Therapeutics during the 4th quarter valued at $54,000. Institutional investors 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.

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