HC Wainwright Reiterates Buy Rating for Spero Therapeutics (NASDAQ:SPRO)

Spero Therapeutics (NASDAQ:SPRO)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 331.03% from the stock’s current price.

SPRO has been the subject of several other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Spero Therapeutics in a research report on Friday, November 15th. TD Cowen reissued a “hold” rating on shares of Spero Therapeutics in a research note on Monday, November 18th.

Spero Therapeutics Price Performance

Spero Therapeutics stock opened at $1.16 on Monday. The company has a market capitalization of $63.24 million, a PE ratio of 16.57 and a beta of 0.59. Spero Therapeutics has a one year low of $1.01 and a one year high of $1.89. The business has a 50 day simple moving average of $1.25 and a 200 day simple moving average of $1.32.

Institutional Investors Weigh In On Spero Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position in Spero Therapeutics by 40.6% during the second 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 in the last quarter. Renaissance Technologies LLC increased its position in 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 buying an additional 121,492 shares during the last quarter. Virtu Financial LLC bought a new stake in Spero Therapeutics in the first quarter valued at approximately $31,000. Finally, Vanguard Group Inc. lifted its position in shares of 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 buying an additional 9,675 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.