Spero Therapeutics (NASDAQ:SPRO) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Spero Therapeutics, Inc. (NASDAQ:SPRO - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.31 and traded as low as $1.10. Spero Therapeutics shares last traded at $1.10, with a volume of 123,652 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPRO. TD Cowen reaffirmed a "hold" rating on shares of Spero Therapeutics in a research report on Monday, November 18th. Cantor Fitzgerald restated an "overweight" rating on shares of Spero Therapeutics in a report on Friday, November 15th. Finally, HC Wainwright reiterated a "buy" rating and set a $5.00 target price on shares of Spero Therapeutics in a research note on Monday, December 2nd.

Spero Therapeutics Stock Down 2.7 %

The firm has a market capitalization of $58.34 million, a price-to-earnings ratio of 15.29 and a beta of 0.59. The stock has a 50 day moving average of $1.22 and a 200 day moving average of $1.30.

Institutional Trading of Spero Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SPRO. Vanguard Group Inc. increased its position in Spero Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,653,432 shares of the company's stock worth $2,844,000 after buying an additional 9,675 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Spero Therapeutics by 40.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,071,860 shares of the company's stock worth $1,392,000 after acquiring an additional 309,262 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Spero Therapeutics by 14.2% in the 2nd quarter. Renaissance Technologies LLC now owns 975,952 shares of the company's stock valued at $1,269,000 after purchasing an additional 121,492 shares during the last quarter. 25.60% of the stock is currently owned by institutional investors and hedge funds.

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.