Spruce Biosciences Inc [NASDAQ: SPRB] slipped around -4.38 points on Thursday, while shares priced at $0.81 at the close of the session, down -84.38%. The company report on March 13, 2024 at 4:08 PM that Spruce Biosciences Reports Full Year 2023 Financial Results and Provides Corporate Updates.
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Compared to the average trading volume of 415.03K shares, SPRB reached a trading volume of 25351206 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $4.20 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 2.43. 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.
RBC Capital Mkts have made an estimate for Spruce Biosciences Inc shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 14, 2024. While these analysts kept the previous recommendation, Leerink Partners dropped their target price from $9 to $2. The new note on the price target was released on March 14, 2024, representing the official price target for Spruce Biosciences Inc stock.
The Average True Range (ATR) for Spruce Biosciences Inc is set at 0.76, with the Price to Sales ratio for SPRB stock in the period of the last 12 months amounting to 3.27. The Price to Book ratio for the last quarter was 0.43, with the Price to Cash per share for the same quarter was set at 2.37.
How has SPRB stock performed recently?
Spruce Biosciences Inc [SPRB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -84.96. With this latest performance, SPRB shares dropped by -82.07% in over the last four-week period, additionally sinking by -67.45% over the last 6 months – not to mention a drop of -65.21% 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 21.69, with the RSI for the last a single of trading hit 15.12, and the three-weeks RSI is set at 27.28 for Spruce Biosciences Inc [SPRB]. The present Moving Average for the last 50 days of trading for this stock 3.93, while it was recorded at 4.24 for the last single week of trading, and 2.45 for the last 200 days.
Spruce Biosciences Inc [SPRB]: Deeper insight into the fundamentals
Spruce Biosciences Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.59 and a Current Ratio set at 4.18.
Earnings analysis for Spruce Biosciences Inc [SPRB]
With the latest financial reports released by the company, Spruce Biosciences Inc posted -0.4/share EPS, while the average EPS was predicted by analysts to be reported at -0.36/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPRB.
Insider trade positions for Spruce Biosciences Inc [SPRB]
The top three institutional holders of SPRB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SPRB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SPRB stock with ownership which is approximately 5.8325%.
