Spruce Biosciences (NASDAQ:SPRB) Shares Scheduled to Reverse Split on Monday, August 4th

Shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) are scheduled to reverse split on Monday, August 4th. The 1-75 reverse split was announced on Thursday, July 24th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, August 1st.

Spruce Biosciences Trading Down 8.2%

NASDAQ SPRB opened at $0.11 on Thursday. The stock has a market capitalization of $4.60 million, a price-to-earnings ratio of -0.12 and a beta of 2.40. Spruce Biosciences has a one year low of $0.06 and a one year high of $0.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.36 and a quick ratio of 5.36. The business’s fifty day moving average is $0.08 and its 200-day moving average is $0.21.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lowered their target price on Spruce Biosciences from $1.50 to $0.50 and set a “sector perform” rating on the stock in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, Spruce Biosciences has a consensus rating of “Hold” and a consensus target price of $1.75.

Institutional Investors Weigh In On Spruce Biosciences

An institutional investor recently bought a new position in Spruce Biosciences stock. Boothbay Fund Management LLC acquired a new stake in shares of Spruce Biosciences, Inc. (NASDAQ:SPRB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 288,800 shares of the company’s stock, valued at approximately $121,000. Boothbay Fund Management LLC owned about 0.70% of Spruce Biosciences as of its most recent SEC filing. Institutional investors and hedge funds own 91.71% of the company’s stock.

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), which is in Phase 2b clinical trial; and to evaluate glucocorticoid reduction in adult patients with classic CAH that is Phase 2b clinical trial.