Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) Short Interest Down 64.2% in March

Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) was the recipient of a significant decline in short interest in the month of March. As of March 13th, there was short interest totalling 35,800 shares, a decline of 64.2% from the February 27th total of 100,000 shares. Based on an average daily trading volume, of 136,700 shares, the short-interest ratio is currently 0.3 days. Approximately 0.3% of the company’s shares are sold short.

Several research analysts have recently commented on the company. Piper Jaffray Companies decreased their price objective on Spring Bank Pharmaceuticals from $10.00 to $1.70 in a report on Monday, December 30th. Jefferies Financial Group downgraded Spring Bank Pharmaceuticals from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $28.00 to $1.50 in a report on Wednesday, January 29th. Zacks Investment Research upgraded Spring Bank Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a report on Tuesday, March 17th. ValuEngine upgraded Spring Bank Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, B. Riley restated a “neutral” rating and set a $2.00 price target (down previously from $16.00) on shares of Spring Bank Pharmaceuticals in a report on Monday, December 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $10.03.

A hedge fund recently raised its stake in Spring Bank Pharmaceuticals stock. Millennium Management LLC boosted its holdings in shares of Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) by 21.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,077 shares of the company’s stock after purchasing an additional 17,465 shares during the period. Millennium Management LLC owned about 0.61% of Spring Bank Pharmaceuticals worth $350,000 at the end of the most recent reporting period. 21.45% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:SBPH traded up $0.01 during mid-day trading on Thursday, reaching $1.06. 65,500 shares of the company’s stock traded hands, compared to its average volume of 240,158. Spring Bank Pharmaceuticals has a 12-month low of $0.80 and a 12-month high of $11.00. The firm has a market capitalization of $17.17 million, a price-to-earnings ratio of -0.69 and a beta of 0.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 10.73 and a quick ratio of 10.72. The company has a 50 day moving average price of $1.16 and a 200-day moving average price of $2.47.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last announced its quarterly earnings results on Friday, February 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.03. As a group, analysts forecast that Spring Bank Pharmaceuticals will post -1.35 EPS for the current year.

About Spring Bank Pharmaceuticals

Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for the treatment of viral infections, inflammatory diseases, and various cancers using small molecule nucleotide platform. Its lead product candidate is inarigivir soproxil for the treatment of chronic hepatitis B virus (HBV).

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