Spero Therapeutics, Inc. (NASDAQ:SPRO – Free Report) – Stock analysts at Cantor Fitzgerald lowered their FY2023 earnings estimates for Spero Therapeutics in a research report issued on Tuesday, November 14th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will post earnings per share of ($0.49) for the year, down from their previous forecast of ($0.26). The consensus estimate for Spero Therapeutics’ current full-year earnings is ($0.44) per share. Cantor Fitzgerald also issued estimates for Spero Therapeutics’ FY2024 earnings at ($0.85) EPS.
Separately, HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Spero Therapeutics in a research note on Tuesday.
Spero Therapeutics Stock Up 2.6 %
SPRO opened at $1.19 on Friday. Spero Therapeutics has a 52 week low of $0.99 and a 52 week high of $2.04. The business has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $1.43. The firm has a market cap of $63.07 million, a P/E ratio of 119.00 and a beta of 0.87.
Spero Therapeutics (NASDAQ:SPRO – Get Free Report) last posted its quarterly earnings data on Monday, November 13th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.17. The firm had revenue of $25.47 million during the quarter, compared to analysts’ expectations of $2.40 million. Spero Therapeutics had a negative net margin of 2.08% and a positive return on equity of 4.14%.
Insider Activity at Spero Therapeutics
In other Spero Therapeutics news, insider Kamal Hamed sold 39,496 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $1.27, for a total transaction of $50,159.92. Following the sale, the insider now directly owns 576,461 shares in the company, valued at approximately $732,105.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders sold 54,553 shares of company stock worth $69,298. Corporate insiders own 4.21% of the company’s stock.
Institutional Investors Weigh In On Spero Therapeutics
Several large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its position in shares of Spero Therapeutics by 56.8% during the third quarter. Acadian Asset Management LLC now owns 272,024 shares of the company’s stock worth $327,000 after buying an additional 98,485 shares in the last quarter. Anson Funds Management LP raised its holdings in shares of Spero Therapeutics by 3.0% in the 2nd quarter. Anson Funds Management LP now owns 3,444,862 shares of the company’s stock valued at $4,995,000 after purchasing an additional 100,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Spero Therapeutics by 44.6% during the 2nd quarter. Renaissance Technologies LLC now owns 593,431 shares of the company’s stock worth $860,000 after purchasing an additional 183,131 shares during the last quarter. BlackRock Inc. grew its stake in shares of Spero Therapeutics by 6.9% during the second quarter. BlackRock Inc. now owns 523,804 shares of the company’s stock worth $760,000 after purchasing an additional 33,991 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Spero Therapeutics by 15.7% in the second quarter. Geode Capital Management LLC now owns 390,805 shares of the company’s stock valued at $567,000 after buying an additional 52,949 shares during the last quarter. Hedge funds and other institutional investors own 27.25% of the company’s stock.
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, a direct acting IV-administered agent to treat MDR Gram-negative bacterial infections in the hospital; and SPR720, a novel oral antibiotic for the treatment of non-tuberculous mycobacterial pulmonary disease.
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