Short Interest in Spero Therapeutics, Inc. (NASDAQ:SPRO) Decreases By 32.8%

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 decrease in short interest during the month of August. As of August 15th, there was short interest totaling 927,200 shares, a decrease of 32.8% from the July 31st total of 1,380,000 shares. Based on an average daily volume of 4,440,000 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 4,440,000 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Spero Therapeutics to a "hold" rating in a report on Saturday, June 21st. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.00.

Institutional Investors Weigh In On Spero Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. acquired a new stake in shares of Spero Therapeutics during the 2nd quarter valued at $43,000. Mackenzie Financial Corp lifted its position in shares of Spero Therapeutics by 11.4% during the 1st quarter. Mackenzie Financial Corp now owns 209,031 shares of the company's stock valued at $151,000 after acquiring an additional 21,472 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Spero Therapeutics during the 2nd quarter valued at $90,000. Axxcess Wealth Management LLC acquired a new stake in shares of Spero Therapeutics during the 2nd quarter valued at $94,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in shares of Spero Therapeutics during the 2nd quarter valued at $94,000. Institutional investors and hedge funds own 25.60% of the company's stock.

Spero Therapeutics Price Performance

SPRO stock traded down $0.05 on Friday, reaching $1.90. The company's stock had a trading volume of 391,231 shares, compared to its average volume of 1,776,594. Spero Therapeutics has a 52 week low of $0.51 and a 52 week high of $3.22. The company has a market capitalization of $106.93 million, a P/E ratio of -1.94 and a beta of 1.46. The firm has a fifty day moving average of $2.24 and a two-hundred day moving average of $1.62.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.38) by $0.35. The business had revenue of $14.19 million during the quarter, compared to analyst estimates of $11.00 million. Spero Therapeutics had a negative return on equity of 120.27% and a negative net margin of 110.35%. As a group, equities analysts expect that Spero Therapeutics will post -1.2 EPS for the current fiscal year.

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.