Spero Therapeutics’ (NASDAQ:SPRO) quiet period will end on Tuesday, December 12th. Spero Therapeutics had issued 5,500,000 shares in its public offering on November 2nd. The total size of the offering was $77,000,000 based on an initial share price of $14.00. During Spero Therapeutics’ quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of analysts recently issued reports on SPRO shares. Oppenheimer assumed coverage on shares of Spero Therapeutics in a report on Monday, November 27th. They set a “buy” rating and a $30.00 price objective on the stock. Bank of America began coverage on shares of Spero Therapeutics in a research report on Monday, November 27th. They issued a “neutral” rating for the company. Cowen began coverage on shares of Spero Therapeutics in a research report on Monday, November 27th. They set an “outperform” rating for the company. Finally, Stifel Nicolaus assumed coverage on shares of Spero Therapeutics in a research report on Monday, November 27th. They set a “buy” rating and a $26.00 price objective for the company.
Spero Therapeutics (NASDAQ SPRO) traded up $0.14 during midday trading on Friday, hitting $11.75. 36,634 shares of the stock traded hands, compared to its average volume of 83,096. Spero Therapeutics has a twelve month low of $9.84 and a twelve month high of $15.40.
In other news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the stock in a transaction on Monday, November 6th. The stock was bought at an average price of $14.00 per share, with a total value of $5,999,994.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joel Sendek acquired 5,000 shares of the stock in a transaction on Monday, November 6th. The stock was purchased at an average cost of $14.00 per share, with a total value of $70,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 649,356 shares of company stock valued at $9,090,984. Corporate insiders own 13.90% of the company’s stock.
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About Spero Therapeutics
SmartPros Ltd. is engaged in provision of learning and educational solutions in content areas that target specific markets, including accounting/finance, legal, engineering, securities and insurance. The Company also provides education in banking, finance, taxation, information technology, health and safety, human resources and compliance for the general corporate market.
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