Aspire Biopharma Stock Set to Reverse Split on Monday, May 11th (NASDAQ:ASBP)

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) shares are going to reverse split on Monday, May 11th. The 1-30 reverse split was announced on Thursday, May 7th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 8th.

Aspire Biopharma Trading Down 16.7%

NASDAQ:ASBP traded down $0.03 during midday trading on Thursday, hitting $0.16. 160,902,912 shares of the company traded hands, compared to its average volume of 9,635,640. The firm’s fifty day moving average is $0.87 and its 200-day moving average is $3.58. Aspire Biopharma has a 12-month low of $0.12 and a 12-month high of $35.01. The firm has a market capitalization of $778,720.00, a P/E ratio of -0.01 and a beta of 0.21.

Aspire Biopharma (NASDAQ:ASBP) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $0.00 million during the quarter.

Analyst Upgrades and Downgrades

ASBP has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aspire Biopharma in a research report on Monday, April 20th. Wall Street Zen raised Aspire Biopharma to a “sell” rating in a research report on Saturday, January 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Aspire Biopharma presently has an average rating of “Sell”.

Hedge Funds Weigh In On Aspire Biopharma

Several hedge funds have recently bought and sold shares of ASBP. CIBC Bancorp USA Inc. bought a new position in Aspire Biopharma in the 3rd quarter valued at $28,000. XTX Topco Ltd grew its position in shares of Aspire Biopharma by 853.2% during the 4th quarter. XTX Topco Ltd now owns 265,471 shares of the company’s stock worth $35,000 after buying an additional 237,620 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Aspire Biopharma by 625.8% during the 2nd quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock worth $41,000 after buying an additional 131,533 shares in the last quarter. Institutional investors own 19.17% of the company’s stock.

About Aspire Biopharma

Aspire Biopharma Inc is a specialty pharmaceutical company dedicated to developing and commercializing inhaled therapeutics for cardiopulmonary emergencies and respiratory diseases. The firm leverages proprietary formulation and drug-delivery technologies to repurpose established active pharmaceutical ingredients, aiming to enhance onset of action and improve patient convenience in acute settings. Aspire’s focus on pulmonary administration differentiates its approach from traditional oral or injectable treatments for asthma, allergic reactions, and other respiratory conditions.

The company’s lead asset is a reformulated metered-dose inhaler version of epinephrine designed to serve as an over-the-counter or prescription rescue therapy for acute bronchospasm and anaphylaxis.