Spero Therapeutics (NASDAQ:SPRO) Shares Pass Below 200 Day Moving Average – Here’s Why

Spero Therapeutics, Inc. (NASDAQ:SPRO) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.47 and traded as low as $2.13. Spero Therapeutics shares last traded at $2.17, with a volume of 303,908 shares changing hands.

Analyst Ratings Changes

A number of brokerages have weighed in on SPRO. Wall Street Zen cut shares of Spero Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Spero Therapeutics in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Spero Therapeutics Stock Down 0.9%

The stock has a 50 day simple moving average of $2.51 and a 200 day simple moving average of $2.47. The company has a market cap of $121.59 million, a price-to-earnings ratio of 8.75 and a beta of 1.49.

Spero Therapeutics (NASDAQ:SPRO) last issued its earnings results on Wednesday, May 13th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.05. The company had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.26 million. Spero Therapeutics had a return on equity of 35.58% and a net margin of 24.90%.

Insiders Place Their Bets

In other Spero Therapeutics news, insider Esther Rajavelu sold 25,240 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $2.51, for a total value of $63,352.40. Following the completion of the transaction, the insider owned 986,851 shares in the company, valued at $2,476,996.01. This represents a 2.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Spero Therapeutics

Hedge funds have recently made changes to their positions in the company. GSK plc acquired a new position in Spero Therapeutics in the 4th quarter worth $21,414,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Spero Therapeutics during the third quarter valued at about $283,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Spero Therapeutics during the fourth quarter worth about $306,000. Squarepoint Ops LLC purchased a new stake in shares of Spero Therapeutics during the fourth quarter worth about $278,000. Finally, Shay Capital LLC purchased a new stake in shares of Spero Therapeutics during the third quarter worth about $120,000. Hedge funds and other institutional investors own 25.60% of the company’s stock.

About Spero Therapeutics

Spero Therapeutics is a clinical‐stage biopharmaceutical company focused on the discovery and development of novel therapies to address multidrug‐resistant bacterial infections. Headquartered in Boston, Massachusetts, the company aims to advance a pipeline of oral and intravenous antibiotic candidates designed to treat serious infectious diseases that pose significant public health challenges.

The company’s lead candidate, tebipenem HBr, is an oral carbapenem antibiotic being developed for the treatment of complicated urinary tract infections caused by resistant Gram‐negative pathogens.