PFM Health Sciences LP Sells 39,680 Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB)

PFM Health Sciences LP reduced its stake in Spruce Biosciences, Inc. (NASDAQ:SPRB) by 7.5% during the 1st quarter, Holdings Channel reports. The fund owned 489,631 shares of the company’s stock after selling 39,680 shares during the period. PFM Health Sciences LP’s holdings in Spruce Biosciences were worth $8,128,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SPRB. Citigroup Inc. bought a new position in shares of Spruce Biosciences during the fourth quarter worth approximately $31,000. Strs Ohio increased its stake in Spruce Biosciences by 41.2% in the first quarter. Strs Ohio now owns 2,400 shares of the company’s stock valued at $39,000 after acquiring an additional 700 shares during the last quarter. Wells Fargo & Company MN bought a new position in Spruce Biosciences in the fourth quarter valued at approximately $90,000. American International Group Inc. bought a new position in Spruce Biosciences in the fourth quarter valued at approximately $98,000. Finally, New York State Common Retirement Fund increased its stake in Spruce Biosciences by 87.5% in the first quarter. New York State Common Retirement Fund now owns 6,000 shares of the company’s stock valued at $100,000 after acquiring an additional 2,800 shares during the last quarter. 71.67% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Camilla V. Simpson sold 14,045 shares of Spruce Biosciences stock in a transaction on Friday, April 30th. The shares were sold at an average price of $16.14, for a total transaction of $226,686.30. Following the completion of the transaction, the director now owns 14,045 shares of the company’s stock, valued at $226,686.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings A/S Novo sold 475,000 shares of Spruce Biosciences stock in a transaction on Wednesday, May 19th. The stock was sold at an average price of $13.90, for a total transaction of $6,602,500.00. Following the transaction, the insider now directly owns 4,514,336 shares of the company’s stock, valued at approximately $62,749,270.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 489,379 shares of company stock worth $6,834,293. 9.10% of the stock is owned by company insiders.

A number of research analysts recently issued reports on SPRB shares. SVB Leerink reissued a “buy” rating and issued a $35.00 price objective on shares of Spruce Biosciences in a research note on Tuesday, May 18th. HC Wainwright began coverage on shares of Spruce Biosciences in a research report on Monday. They issued a “buy” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $31.17.

Shares of NASDAQ:SPRB traded up $0.06 during mid-day trading on Thursday, reaching $9.89. 11,020 shares of the company’s stock were exchanged, compared to its average volume of 64,547. The firm’s fifty day simple moving average is $12.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 22.13 and a current ratio of 22.13. Spruce Biosciences, Inc. has a twelve month low of $9.13 and a twelve month high of $35.60.

Spruce Biosciences (NASDAQ:SPRB) last issued its quarterly earnings results on Tuesday, May 11th. The company reported ($0.42) EPS for the quarter, hitting analysts’ consensus estimates of ($0.42). Sell-side analysts forecast that Spruce Biosciences, Inc. will post -2.03 EPS for the current year.

Spruce Biosciences Company Profile

Spruce Biosciences, Inc, a biopharmaceutical company, focuses on developing and commercializing novel therapies for rare endocrine disorders. The company engages in developing tildacerfont, a non-steroidal therapy to enhance disease control and reduce steroid burden for patients suffering from congenital adrenal hyperplasia (CAH).

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Institutional Ownership by Quarter for Spruce Biosciences (NASDAQ:SPRB)

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