Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) Director David Arkowitz bought 2,500 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was acquired at an average price of $12.24 per share, for a total transaction of $30,600.00. Following the completion of the purchase, the director now directly owns 17,086 shares in the company, valued at $209,132.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Spring Bank Pharmaceuticals, Inc. (SBPH) traded up 0.50% during trading on Thursday, hitting $12.07. The stock had a trading volume of 2,860 shares. The company’s market cap is $153.25 million. The stock has a 50 day moving average of $14.16 and a 200 day moving average of $11.15. Spring Bank Pharmaceuticals, Inc. has a 12 month low of $6.31 and a 12 month high of $16.97.
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A number of equities analysts have weighed in on the company. ValuEngine upgraded Spring Bank Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Cantor Fitzgerald assumed coverage on Spring Bank Pharmaceuticals in a research note on Wednesday, July 19th. They issued an “overweight” rating and a $29.00 target price on the stock. Chardan Capital decreased their target price on Spring Bank Pharmaceuticals from $34.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st. Finally, JMP Securities began coverage on Spring Bank Pharmaceuticals in a research report on Friday, May 19th. They set a “market perform” rating and a $20.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.25.
Large investors have recently modified their holdings of the company. C WorldWide Group Holding A S acquired a new position in Spring Bank Pharmaceuticals during the second quarter worth approximately $340,000. Private Capital Advisors Inc. raised its stake in shares of Spring Bank Pharmaceuticals by 50.0% in the second quarter. Private Capital Advisors Inc. now owns 56,250 shares of the company’s stock worth $762,000 after buying an additional 18,750 shares during the last quarter. Morse Asset Management Inc raised its stake in shares of Spring Bank Pharmaceuticals by 156.9% in the second quarter. Morse Asset Management Inc now owns 63,700 shares of the company’s stock worth $862,000 after buying an additional 38,900 shares during the last quarter. Parsons Capital Management Inc. RI raised its stake in shares of Spring Bank Pharmaceuticals by 19.6% in the first quarter. Parsons Capital Management Inc. RI now owns 233,443 shares of the company’s stock worth $2,078,000 after buying an additional 38,278 shares during the last quarter. Finally, Sphera Funds Management LTD. purchased a new stake in shares of Spring Bank Pharmaceuticals during the second quarter worth about $2,370,000. 9.82% of the stock is currently owned by institutional investors.
Spring Bank Pharmaceuticals Company Profile
Spring Bank Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of a class of therapeutics using its small molecule nucleic acid hybrid (SMNH) chemistry platform. The Company is developing its SMNH product, SB 9200, for the treatment of viral diseases.
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