HC Wainwright Cuts Spero Therapeutics (NASDAQ:SPRO) Price Target to $5.00

Spero Therapeutics (NASDAQ:SPRO - Free Report) had its price target lowered by HC Wainwright from $7.00 to $5.00 in a report issued on Monday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other research firms also recently commented on SPRO. Cantor Fitzgerald reiterated an "overweight" rating on shares of Spero Therapeutics in a research note on Tuesday, August 6th. TD Cowen upgraded Spero Therapeutics from a "hold" rating to a "buy" rating in a research note on Tuesday, August 6th.

Spero Therapeutics Stock Up 9.3 %

SPRO stock traded up $0.11 during midday trading on Monday, hitting $1.29. The company's stock had a trading volume of 316,054 shares, compared to its average volume of 216,760. The stock has a market cap of $69.65 million, a price-to-earnings ratio of 3.91 and a beta of 0.63. The stock's 50-day moving average price is $1.30 and its 200 day moving average price is $1.37. Spero Therapeutics has a 1 year low of $1.01 and a 1 year high of $1.89.

Spero Therapeutics (NASDAQ:SPRO - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.01. The company had revenue of $10.20 million during the quarter, compared to analyst estimates of $9.80 million. Spero Therapeutics had a net margin of 14.74% and a return on equity of 25.67%. During the same quarter in the prior year, the business earned ($0.23) earnings per share. As a group, equities analysts forecast that Spero Therapeutics will post -1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Spero Therapeutics by 14.2% during the second quarter. Renaissance Technologies LLC now owns 975,952 shares of the company's stock worth $1,269,000 after acquiring an additional 121,492 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Spero Therapeutics by 40.6% during the second quarter. Acadian Asset Management LLC now owns 1,071,860 shares of the company's stock valued at $1,392,000 after buying an additional 309,262 shares during the period. Virtu Financial LLC purchased a new stake in shares of Spero Therapeutics in the first quarter worth about $31,000. Murchinson Ltd. boosted its position in shares of Spero Therapeutics by 1.3% in the first quarter. Murchinson Ltd. now owns 873,910 shares of the company's stock valued at $1,503,000 after acquiring an additional 11,210 shares during the period. Finally, Vanguard Group Inc. grew its stake in Spero Therapeutics by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,653,432 shares of the company's stock valued at $2,844,000 after acquiring an additional 9,675 shares in the last quarter. 25.60% of the stock is owned by institutional investors.

About Spero Therapeutics

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.