Spruce Biosciences Inc [NASDAQ: SPRB] gained 5.82% on the last trading session, reaching $0.56 price per share at the time.
If compared to the average trading volume of 556.94K shares, SPRB reached a trading volume of 327762 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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Here is what top equities market gurus are saying 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 $2.50 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 2.20. 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 0.04, with the Price to Sales ratio for SPRB stock in the period of the last 12 months amounting to 2.27. The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 1.97.
Trading performance analysis for SPRB stock
Spruce Biosciences Inc [SPRB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.31. With this latest performance, SPRB shares dropped by -21.95% in over the last four-week period, additionally sinking by -81.15% over the last 6 months – not to mention a drop of -74.17% 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 37.67, with the RSI for the last a single of trading hit 44.37, and the three-weeks RSI is set at 36.09 for Spruce Biosciences Inc [SPRB]. The present Moving Average for the last 50 days of trading for this stock 0.6894, while it was recorded at 0.5346 for the last single week of trading, and 1.8698 for the last 200 days.
Spruce Biosciences Inc [SPRB]: A deeper dive into fundamental analysis
Spruce Biosciences Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.67 and a Current Ratio set at 4.67.
An analysis of Institutional ownership at Spruce Biosciences Inc [SPRB]
The top three institutional holders of SPRB stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in SPRB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in SPRB stock with ownership which is approximately 5.1238%.
