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

Key Points

• Spero Therapeutics experienced a significant decline in short interest, with a drop of 45.6% in August, resulting in a total of 504,000 shares shorted by the end of the month.
• Wall Street analysts rated Spero Therapeutics with a consensus of "Moderate Buy" and a target price of $5.00, with recent ratings varying between "Buy" and "Hold."
• The company reported earnings of ($0.03) EPS for the recent quarter, exceeding expectations and generating revenues of $14.19 million.

Spero Therapeutics, Inc. (NASDAQ:SPRO - Get Free Report) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 504,000 shares, a decline of 45.6% from the August 15th total of 927,200 shares. Approximately 0.9% of the company's stock are short sold. Based on an average trading volume of 942,100 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 942,100 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.9% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Anson Funds Management LP lifted its stake in Spero Therapeutics by 98.9% in the 1st quarter. Anson Funds Management LP now owns 7,638,818 shares of the company's stock valued at $5,500,000 after buying an additional 3,798,932 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Spero Therapeutics by 11.4% in the 1st quarter. Mackenzie Financial Corp now owns 209,031 shares of the company's stock valued at $151,000 after buying an additional 21,472 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in Spero Therapeutics in the 2nd quarter valued at about $455,000. Squarepoint Ops LLC purchased a new position in Spero Therapeutics in the 4th quarter valued at about $57,000. Finally, Jane Street Group LLC purchased a new position in Spero Therapeutics in the 4th quarter valued at about $54,000. 25.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Spero Therapeutics Stock Performance

NASDAQ SPRO traded down $0.01 during mid-day trading on Friday, reaching $2.00. 116,292 shares of the stock were exchanged, compared to its average volume of 1,732,409. The business's 50 day moving average is $2.13 and its 200-day moving average is $1.66. Spero Therapeutics has a 1 year low of $0.51 and a 1 year high of $3.22. The company has a market capitalization of $112.27 million, a P/E ratio of -2.04 and a beta of 1.46.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $14.19 million for the quarter, compared to the consensus estimate of $11.00 million. Spero Therapeutics had a negative net margin of 110.35% and a negative return on equity of 120.27%. Equities analysts predict that Spero Therapeutics will post -1.2 earnings per share 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.