Spero Therapeutics (NASDAQ:SPRO) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Spero Therapeutics stock has recently exceeded its 200-day moving average of $1.51, with current trading at $1.87.
• Analysts have a consensus rating of "Moderate Buy" for Spero Therapeutics, with a target price of $5.00 and a mix of Buy and Hold ratings among four analysts.
• The company reported a quarterly earnings beat, posting ($0.03) earnings per share against estimates of ($0.38), alongside revenues of $14.19 million.

Spero Therapeutics, Inc. (NASDAQ:SPRO - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.51 and traded as high as $1.94. Spero Therapeutics shares last traded at $1.87, with a volume of 301,332 shares changing hands.

Analyst Upgrades and Downgrades

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

Spero Therapeutics Trading Up 1.3%

The stock's 50-day moving average price is $2.43 and its 200-day moving average price is $1.53. The company has a market cap of $112.84 million, a P/E ratio of -2.05 and a beta of 1.39.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last issued 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 business had revenue of $14.19 million during the quarter, compared to analyst estimates of $11.00 million. On average, research analysts anticipate 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 bought and sold shares 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 buying an additional 3,798,932 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Spero Therapeutics during the second quarter worth about $455,000. Mackenzie Financial Corp increased its position 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 acquiring an additional 155,656 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Spero Therapeutics by 13.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,105,591 shares of the company's stock worth $1,139,000 after acquiring an additional 130,938 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Spero Therapeutics by 26,011.9% in the 4th quarter. JPMorgan Chase & Co. now owns 61,624 shares of the company's stock valued at $63,000 after acquiring an additional 61,388 shares in the last quarter. Institutional investors and hedge funds own 25.60% of the company's stock.

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.