Spruce Biosciences, Inc. (NASDAQ:SPRB) Sees Significant Drop in Short Interest

Spruce Biosciences, Inc. (NASDAQ:SPRB) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 246,600 shares, a decline of 44.6% from the January 15th total of 444,900 shares. Based on an average daily trading volume, of 574,600 shares, the short-interest ratio is currently 0.4 days.

Spruce Biosciences Stock Performance

Shares of NASDAQ SPRB traded down $0.00 during mid-day trading on Thursday, reaching $0.41. 15,445 shares of the company’s stock were exchanged, compared to its average volume of 473,136. The firm has a 50-day moving average price of $0.40 and a two-hundred day moving average price of $0.46. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. The firm has a market capitalization of $16.85 million, a price-to-earnings ratio of -0.43 and a beta of 2.37. Spruce Biosciences has a 52 week low of $0.34 and a 52 week high of $5.95.

Spruce Biosciences (NASDAQ:SPRB) last announced its quarterly earnings data on Monday, November 11th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.06. The business had revenue of $0.60 million during the quarter, compared to analyst estimates of $1.80 million. Spruce Biosciences had a negative return on equity of 62.10% and a negative net margin of 555.23%. Analysts predict that Spruce Biosciences will post -1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. HC Wainwright restated a “neutral” rating on shares of Spruce Biosciences in a research report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and set a $1.50 price target (down from $2.00) on shares of Spruce Biosciences in a report on Wednesday, December 11th. Citizens Jmp downgraded shares of Spruce Biosciences from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. JMP Securities reiterated a “market perform” rating and set a $3.00 price target on shares of Spruce Biosciences in a research note on Wednesday, December 11th. Finally, Oppenheimer reissued a “market perform” rating on shares of Spruce Biosciences in a report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Spruce Biosciences presently has an average rating of “Hold” and an average price target of $3.90.

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.