Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) Short Interest Down 70.0% in June

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 101,413 shares, a drop of 70.0% from the June 15th total of 337,919 shares. Based on an average daily volume of 158,411 shares, the days-to-cover ratio is presently 0.6 days. Approximately 8.3% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Aspire Biopharma in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Aspire Biopharma currently has an average rating of “Sell”.

Institutional Investors Weigh In On Aspire Biopharma

Several hedge funds have recently made changes to their positions in ASBP. CIBC Bancorp USA Inc. bought a new position in shares of Aspire Biopharma during the 3rd quarter worth $28,000. XTX Topco Ltd raised its holdings in shares of Aspire Biopharma by 853.2% in the fourth quarter. XTX Topco Ltd now owns 265,471 shares of the company’s stock valued at $35,000 after acquiring an additional 237,620 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Aspire Biopharma by 625.8% in the second quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock valued at $41,000 after acquiring an additional 131,533 shares in the last quarter. 19.17% of the stock is currently owned by hedge funds and other institutional investors.

Aspire Biopharma Price Performance

Shares of NASDAQ:ASBP traded down $0.06 during trading on Friday, reaching $6.01. 22,926 shares of the company were exchanged, compared to its average volume of 761,110. The firm has a market capitalization of $7.81 million, a PE ratio of -0.05 and a beta of 0.15. The business’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $36.86. Aspire Biopharma has a 12-month low of $3.31 and a 12-month high of $1,050.36.

Aspire Biopharma (NASDAQ:ASBP) last announced its quarterly earnings results on Friday, May 15th. The company reported ($20.57) earnings per share (EPS) for the quarter. The company had revenue of $0.03 million during the quarter.

Aspire Biopharma Company Profile

Aspire Biopharma Inc is a specialty pharmaceutical company dedicated to developing and commercializing inhaled therapeutics for cardiopulmonary emergencies and respiratory diseases. The firm leverages proprietary formulation and drug-delivery technologies to repurpose established active pharmaceutical ingredients, aiming to enhance onset of action and improve patient convenience in acute settings. Aspire’s focus on pulmonary administration differentiates its approach from traditional oral or injectable treatments for asthma, allergic reactions, and other respiratory conditions.

The company’s lead asset is a reformulated metered-dose inhaler version of epinephrine designed to serve as an over-the-counter or prescription rescue therapy for acute bronchospasm and anaphylaxis.