Spruce Biosciences Inc. [SPRB] Stock trading around $4.04 per share: What’s Next?


Spruce Biosciences Inc. [NASDAQ: SPRB] price surged by 13.48 percent to reach at $0.48. The company report on January 5, 2022 that Spruce Biosciences Appoints Javier Szwarcberg, M.D., MPH as Chief Executive Officer.

– Samir Gharib, MBA, Promoted to President –.

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Spruce Biosciences, Inc. (Nasdaq: SPRB), a late-stage biopharmaceutical company focused on developing and commercializing novel therapies for rare endocrine disorders with significant unmet medical need, today announced that Dr. Javier Szwarcberg, M.D., MPH, has been appointed Chief Executive Officer and as a member of the board of directors. Samir Gharib, MBA, has been concurrently promoted to President and will continue in his role as Chief Financial Officer.

A sum of 2790900 shares traded at recent session while its average daily volume was at 3.71M shares. Spruce Biosciences Inc. shares reached a high of $4.07 and dropped to a low of $3.31 until finishing in the latest session at $4.04.

The one-year SPRB stock forecast points to a potential upside of 63.27. The average equity rating for SPRB stock is currently 1.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Spruce Biosciences Inc. [SPRB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPRB shares is $11.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPRB stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Spruce Biosciences Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 17, 2021. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Speculative Buy. The new note on the price target was released on December 10, 2021, representing the official price target for Spruce Biosciences Inc. stock.

The Average True Range (ATR) for Spruce Biosciences Inc. is set at 0.71 The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 3.50.

SPRB Stock Performance Analysis:

Spruce Biosciences Inc. [SPRB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.52. With this latest performance, SPRB shares gained by 58.43% in over the last four-week period, additionally sinking by -63.17% over the last 6 months – not to mention a drop of -81.32% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPRB stock in for the last two-week period is set at 52.59, with the RSI for the last a single of trading hit 51.99, and the three-weeks RSI is set at 51.60 for Spruce Biosciences Inc. [SPRB]. The present Moving Average for the last 50 days of trading for this stock 3.63, while it was recorded at 4.17 for the last single week of trading, and 8.91 for the last 200 days.

Insight into Spruce Biosciences Inc. Fundamentals:

Return on Total Capital for SPRB is now -37.37, given the latest momentum, and Return on Invested Capital for the company is -38.52. Return on Equity for this stock declined to -40.30, with Return on Assets sitting at -35.25. When it comes to the capital structure of this company, Spruce Biosciences Inc. [SPRB] has a Total Debt to Total Equity ratio set at 4.27. Additionally, SPRB Total Debt to Total Capital is recorded at 4.09, with Total Debt to Total Assets ending up at 3.92. Long-Term Debt to Equity for the company is recorded at 2.39, with the Long-Term Debt to Total Capital now at 2.29.

Spruce Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.40 and a Current Ratio set at 10.40.

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Spruce Biosciences Inc. [SPRB] Insider Position Details

Positions in Spruce Biosciences Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 22 institutional holders increased their position in Spruce Biosciences Inc. [NASDAQ:SPRB] by around 1,124,754 shares. Additionally, 20 investors decreased positions by around 1,581,051 shares, while 7 investors held positions by with 18,726,644 shares. The mentioned changes placed institutional holdings at 21,432,449 shares, according to the latest SEC report filing. SPRB stock had 7 new institutional investments in for a total of 894,037 shares, while 4 institutional investors sold positions of 1,049,331 shares during the same period.