The stock price of Spruce Biosciences Inc (NASDAQ: SPRB) has dropped by -0.04 compared to previous close of 0.85. Despite this, the company has seen a gain of 13.97% in its stock price over the last five trading days. Zacks Investment Research reported 2024-03-27 that Spruce Biosciences (SPRB) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Is It Worth Investing in Spruce Biosciences Inc (NASDAQ: SPRB) Right Now?
The stock has a 36-month beta value of 2.53. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SPRB is 22.16M, and at present, short sellers hold a 0.74% of that float. On May 09, 2024, the average trading volume of SPRB was 1.38M shares.
SPRB’s Market Performance
SPRB stock saw an increase of 13.97% in the past week, with a monthly gain of 12.72% and a quarterly increase of -78.76%. The volatility ratio for the week is 5.91%, and the volatility levels for the last 30 days are 5.23% for Spruce Biosciences Inc (SPRB). The simple moving average for the last 20 days is 16.34% for SPRB’s stock, with a simple moving average of -61.09% for the last 200 days.
Analysts’ Opinion of SPRB
Many brokerage firms have already submitted their reports for SPRB stocks, with RBC Capital Mkts repeating the rating for SPRB by listing it as a “Sector Perform.” The predicted price for SPRB in the upcoming period, according to RBC Capital Mkts is $2 based on the research report published on March 14, 2024 of the current year 2024.
Leerink Partners, on the other hand, stated in their research note that they expect to see SPRB reach a price target of $2, previously predicting the price at $9. The rating they have provided for SPRB stocks is “Market Perform” according to the report published on March 14th, 2024.
SPRB Trading at -50.95% from the 50-Day Moving Average
After a stumble in the market that brought SPRB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -85.79% of loss for the given period.
Volatility was left at 5.23%, however, over the last 30 days, the volatility rate increased by 5.91%, as shares surge +10.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -84.31% lower at present.
During the last 5 trading sessions, SPRB rose by +13.58%, which changed the moving average for the period of 200-days by -60.46% in comparison to the 20-day moving average, which settled at $0.7304. In addition, Spruce Biosciences Inc saw -71.15% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SPRB starting from Novo Holdings A/S, who sale 465,021 shares at the price of $0.75 back on Mar 21 ’24. After this action, Novo Holdings A/S now owns 2,550,000 shares of Spruce Biosciences Inc, valued at $350,951 using the latest closing price.
Novo Holdings A/S, the 10% Owner of Spruce Biosciences Inc, sale 359,979 shares at $0.73 during a trade that took place back on Mar 20 ’24, which means that Novo Holdings A/S is holding 3,015,021 shares at $264,081 based on the most recent closing price.
Stock Fundamentals for SPRB
Current profitability levels for the company are sitting at:
- -5.15 for the present operating margin
- 0.98 for the gross margin
The net margin for Spruce Biosciences Inc stands at -4.72. The total capital return value is set at -0.65. Equity return is now at value -66.10, with -50.55 for asset returns.
Based on Spruce Biosciences Inc (SPRB), the company’s capital structure generated 0.04 points at debt to capital in total, while cash flow to debt ratio is standing at -9.27. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is -212.22.
Currently, EBITDA for the company is -51.92 million with net debt to EBITDA at 1.83. When we switch over and look at the enterprise to sales, we see a ratio of -5.65. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.18.
Conclusion
To sum up, Spruce Biosciences Inc (SPRB) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
