Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $9.67 and last traded at $9.90, with a volume of 2281 shares. The stock had previously closed at $10.84.
Several research firms have recently issued reports on SBPH. Piper Jaffray Companies began coverage on shares of Spring Bank Pharmaceuticals in a report on Tuesday, August 14th. They issued an “overweight” rating and a $25.00 target price for the company. Cantor Fitzgerald set a $35.00 target price on shares of Spring Bank Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Jefferies Financial Group began coverage on shares of Spring Bank Pharmaceuticals in a report on Tuesday, October 9th. They issued a “buy” rating and a $28.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $29.25.
The firm has a market capitalization of $142.93 million, a PE ratio of -5.08 and a beta of 0.16.
In other news, insider Martin J. Driscoll bought 4,000 shares of the stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $12.02 per share, for a total transaction of $48,080.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Morse Asset Management Inc lifted its holdings in Spring Bank Pharmaceuticals by 7.1% during the 2nd quarter. Morse Asset Management Inc now owns 177,500 shares of the company’s stock valued at $2,103,000 after buying an additional 11,725 shares in the last quarter. C WorldWide Group Holding A S lifted its holdings in Spring Bank Pharmaceuticals by 4.9% during the 2nd quarter. C WorldWide Group Holding A S now owns 91,567 shares of the company’s stock valued at $1,085,000 after buying an additional 4,245 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Spring Bank Pharmaceuticals during the 2nd quarter valued at about $446,000. Schwab Charles Investment Management Inc. bought a new stake in Spring Bank Pharmaceuticals during the 2nd quarter valued at about $293,000. Finally, Northern Trust Corp lifted its holdings in Spring Bank Pharmaceuticals by 103.1% during the 2nd quarter. Northern Trust Corp now owns 37,915 shares of the company’s stock valued at $450,000 after buying an additional 19,246 shares in the last quarter. Institutional investors own 33.82% of the company’s stock.
Spring Bank Pharmaceuticals Company Profile (NASDAQ:SBPH)
Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapeutics using small molecule nucleic acid hybrid (SMNH) chemistry platform. The company's lead SMNH product candidate is inarigivir soproxil, for the treatment of chronic hepatitis B virus (HBV).
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