Spero Therapeutics (NASDAQ:SPRO) Stock Passes Below Two Hundred Day Moving Average of $2.83

Shares of Spero Therapeutics, Inc. (NASDAQ:SPROGet Rating) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.83 and traded as low as $0.81. Spero Therapeutics shares last traded at $0.82, with a volume of 474,644 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HC Wainwright cut their price objective on shares of Spero Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday, August 15th. Evercore ISI upgraded shares of Spero Therapeutics from an “in-line” rating to an “outperform” rating and set a $8.00 price target for the company in a research report on Thursday. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Spero Therapeutics has a consensus rating of “Hold” and an average price target of $6.67.

Spero Therapeutics Stock Down 10.5 %

The company has a market cap of $69.08 million, a P/E ratio of -0.63 and a beta of 1.87. The firm’s 50 day moving average is $0.90 and its two-hundred day moving average is $2.79.

Hedge Funds Weigh In On Spero Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SPRO. Renaissance Technologies LLC raised its holdings in shares of Spero Therapeutics by 760.7% during the second quarter. Renaissance Technologies LLC now owns 939,017 shares of the company’s stock valued at $696,000 after purchasing an additional 829,917 shares during the period. Millennium Management LLC raised its holdings in shares of Spero Therapeutics by 413.6% during the second quarter. Millennium Management LLC now owns 314,643 shares of the company’s stock valued at $233,000 after purchasing an additional 253,382 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Spero Therapeutics by 114.4% during the second quarter. Goldman Sachs Group Inc. now owns 303,201 shares of the company’s stock valued at $225,000 after purchasing an additional 161,775 shares during the period. AQR Capital Management LLC acquired a new position in shares of Spero Therapeutics during the second quarter valued at about $115,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Spero Therapeutics by 466.6% during the second quarter. Assenagon Asset Management S.A. now owns 131,020 shares of the company’s stock valued at $97,000 after purchasing an additional 107,897 shares during the period. Institutional investors and hedge funds own 57.38% of the company’s stock.

About Spero Therapeutics

(Get Rating)

Spero Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing 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, a direct acting IV-administered agent to treat MDR Gram-negative bacterial infections in the hospital; and SPR720, an oral antibiotic for the treatment of non-tuberculous mycobacterial pulmonary disease.

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