Spero Therapeutics, Inc. (NASDAQ:SPRO) Short Interest Up 61.5% in October

Spero Therapeutics, Inc. (NASDAQ:SPRO) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 625,200 shares, a growth of 61.5% from the October 15th total of 387,100 shares. Based on an average daily trading volume, of 208,600 shares, the days-to-cover ratio is presently 3.0 days.

Hedge Funds Weigh In On Spero Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of Spero Therapeutics by 14.2% during the 2nd 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 during the period. Acadian Asset Management LLC increased its position in shares of Spero Therapeutics by 40.6% in the second quarter. Acadian Asset Management LLC now owns 1,071,860 shares of the company’s stock worth $1,392,000 after purchasing an additional 309,262 shares during the period. Virtu Financial LLC acquired a new position in shares of Spero Therapeutics in the 1st quarter valued at approximately $31,000. Murchinson Ltd. lifted its stake in Spero Therapeutics by 1.3% during the first quarter. Murchinson Ltd. now owns 873,910 shares of the company’s stock worth $1,503,000 after purchasing an additional 11,210 shares during the last quarter. Finally, Vanguard Group Inc. grew 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 valued at $2,844,000 after acquiring an additional 9,675 shares during the last quarter. 25.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPRO. TD Cowen upgraded Spero Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. HC Wainwright decreased their target price on Spero Therapeutics from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Spero Therapeutics in a report on Tuesday, August 6th.

Spero Therapeutics Stock Performance

SPRO traded down $0.01 on Wednesday, hitting $1.31. 81,229 shares of the company were exchanged, compared to its average volume of 216,114. Spero Therapeutics has a 12 month low of $1.01 and a 12 month high of $1.89. The company has a market cap of $70.73 million, a PE ratio of 3.98 and a beta of 0.63. The stock’s fifty day moving average is $1.30 and its 200-day moving average is $1.37.

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.