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

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

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

NASDAQ:SBPH traded up $0.01 during trading hours on Thursday, reaching $1.06. The stock had a trading volume of 65,500 shares, compared to its average volume of 240,158. The company has a debt-to-equity ratio of 0.62, a quick ratio of 10.72 and a current ratio of 10.73. The stock has a 50 day simple moving average of $1.16 and a 200 day simple moving average of $2.47. Spring Bank Pharmaceuticals has a 12-month low of $0.80 and a 12-month high of $11.00. The stock has a market cap of $17.17 million, a P/E ratio of -0.69 and a beta of 0.26.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last released its earnings results on Friday, February 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.03. On average, equities analysts expect that Spring Bank Pharmaceuticals will post -1.35 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Spring Bank Pharmaceuticals stock. Renaissance Technologies LLC lifted its stake in Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) by 34.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,930 shares of the company’s stock after acquiring an additional 51,130 shares during the period. Renaissance Technologies LLC owned approximately 1.22% of Spring Bank Pharmaceuticals worth $317,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 21.45% of the company’s stock.

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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