Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 205,400 shares, a growth of 52.1% from the July 31st total of 135,000 shares. Based on an average daily volume of 492,700 shares, the days-to-cover ratio is currently 0.4 days.
Spruce Biosciences Price Performance
Shares of NASDAQ SPRB remained flat at $0.46 during mid-day trading on Friday. The stock had a trading volume of 148,689 shares, compared to its average volume of 773,353. The stock has a 50 day moving average price of $0.51 and a 200-day moving average price of $1.33. The company has a quick ratio of 5.17, a current ratio of 5.17 and a debt-to-equity ratio of 0.02. The firm has a market cap of $19.12 million, a price-to-earnings ratio of -0.41 and a beta of 2.41. Spruce Biosciences has a 12 month low of $0.41 and a 12 month high of $5.95.
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. The business had revenue of $1.61 million during the quarter, compared to the consensus estimate of $1.55 million. Spruce Biosciences had a negative net margin of 450.38% and a negative return on equity of 59.94%. As a group, sell-side analysts forecast that Spruce Biosciences will post -1.12 EPS for the current fiscal year.
Analyst Ratings Changes
View Our Latest Stock Analysis on SPRB
Hedge Funds Weigh In On Spruce Biosciences
Several hedge funds have recently made changes to their positions in SPRB. Renaissance Technologies LLC grew its position in Spruce Biosciences by 35.1% during the second quarter. Renaissance Technologies LLC now owns 366,100 shares of the company’s stock worth $190,000 after buying an additional 95,100 shares in the last quarter. Superstring Capital Management LP purchased a new position in Spruce Biosciences during the fourth quarter worth about $348,000. AWM Investment Company Inc. purchased a new position in Spruce Biosciences during the first quarter worth about $157,000. Worth Venture Partners LLC grew its position in Spruce Biosciences by 74.4% during the fourth quarter. Worth Venture Partners LLC now owns 526,933 shares of the company’s stock worth $1,544,000 after buying an additional 224,859 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Spruce Biosciences during the first quarter worth about $289,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
About Spruce Biosciences
Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.
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