Spruce Biosciences, Inc. (NASDAQ:SPRB – Get Free Report) saw a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 176,800 shares, a decrease of 28.7% from the June 30th total of 248,100 shares. Based on an average daily trading volume, of 502,500 shares, the short-interest ratio is currently 0.4 days.
Spruce Biosciences Stock Performance
Shares of NASDAQ SPRB traded down $0.01 during mid-day trading on Monday, hitting $0.53. The stock had a trading volume of 316,406 shares, compared to its average volume of 831,662. The company has a 50 day moving average of $0.61 and a two-hundred day moving average of $1.77. The firm has a market cap of $21.86 million, a PE ratio of -0.47 and a beta of 2.42. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.67 and a current ratio of 4.67. Spruce Biosciences has a twelve month low of $0.50 and a twelve month high of $5.95.
Spruce Biosciences (NASDAQ:SPRB – Get Free Report) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.04. The company had revenue of $2.00 million for the quarter, compared to the consensus estimate of $1.12 million. Spruce Biosciences had a negative return on equity of 57.53% and a negative net margin of 461.67%. Research analysts predict that Spruce Biosciences will post -1.24 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on SPRB
Institutional Investors Weigh In On Spruce Biosciences
Several hedge funds have recently modified their holdings of the company. AWM Investment Company Inc. purchased a new stake in shares of Spruce Biosciences during the 1st quarter worth about $157,000. Acadian Asset Management LLC purchased a new stake in shares of Spruce Biosciences during the 1st quarter worth about $289,000. Superstring Capital Management LP purchased a new stake in shares of Spruce Biosciences during the 4th quarter worth about $348,000. AIGH Capital Management LLC boosted its stake in shares of Spruce Biosciences by 75.4% during the 4th quarter. AIGH Capital Management LLC now owns 2,123,863 shares of the company’s stock worth $6,223,000 after acquiring an additional 912,863 shares in the last quarter. Finally, Worth Venture Partners LLC boosted its stake in shares of Spruce Biosciences by 74.4% during the 4th quarter. Worth Venture Partners LLC now owns 526,933 shares of the company’s stock worth $1,544,000 after acquiring an additional 224,859 shares in the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.
Spruce Biosciences Company Profile
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.
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