Spero Therapeutics (NASDAQ:SPRO) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Spero Therapeutics, Inc. (NASDAQ:SPRO)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.21 and traded as low as $0.85. Spero Therapeutics shares last traded at $0.87, with a volume of 77,180 shares.

Analyst Ratings Changes

A number of brokerages have recently commented on SPRO. Evercore ISI lowered shares of Spero Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target on the stock. in a report on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Spero Therapeutics in a report on Monday, December 2nd. TD Cowen reaffirmed a “hold” rating on shares of Spero Therapeutics in a report on Monday, November 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Spero Therapeutics in a report on Friday, November 15th.

Spero Therapeutics Stock Performance

The firm has a market cap of $47.57 million, a PE ratio of 12.47 and a beta of 0.63. The company’s 50-day simple moving average is $1.03 and its two-hundred day simple moving average is $1.21.

Institutional Investors Weigh In On Spero Therapeutics

An institutional investor recently raised its position in Spero Therapeutics stock. Renaissance Technologies LLC raised its position in shares of Spero Therapeutics, Inc. (NASDAQ:SPRO) by 14.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 975,952 shares of the company’s stock after buying an additional 121,492 shares during the period. Renaissance Technologies LLC owned about 1.81% of Spero Therapeutics worth $1,269,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.