Spring Bank Pharmaceuticals (SBPH) Hits New 12-Month Low at $10.63

Shares of Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.63 and last traded at $11.06, with a volume of 8289 shares changing hands. The stock had previously closed at $12.01.

SBPH has been the subject of a number of research analyst reports. Cantor Fitzgerald set a $35.00 target price on Spring Bank Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies initiated coverage on Spring Bank Pharmaceuticals in a research report on Tuesday, August 14th. They issued an “overweight” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.00.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last posted its quarterly earnings data on Thursday, August 2nd. The company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.22. sell-side analysts expect that Spring Bank Pharmaceuticals Inc will post -1.89 earnings per share for the current fiscal year.

In related news, insider Martin J. Driscoll acquired 4,000 shares of Spring Bank Pharmaceuticals stock in a transaction on Monday, August 13th. The stock was purchased at an average cost of $12.02 per share, with a total value of $48,080.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new stake in Spring Bank Pharmaceuticals during the 2nd quarter valued at approximately $184,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Spring Bank Pharmaceuticals during the 2nd quarter worth approximately $293,000. Bank of New York Mellon Corp purchased a new position in shares of Spring Bank Pharmaceuticals during the 2nd quarter worth approximately $446,000. Northern Trust Corp raised its stake in shares of Spring Bank Pharmaceuticals by 103.1% during the 2nd quarter. Northern Trust Corp now owns 37,915 shares of the company’s stock worth $450,000 after buying an additional 19,246 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its stake in shares of Spring Bank Pharmaceuticals by 4.9% during the 2nd quarter. C WorldWide Group Holding A S now owns 91,567 shares of the company’s stock worth $1,085,000 after buying an additional 4,245 shares in the last quarter. 33.82% of the stock is owned by hedge funds and other institutional investors.

About Spring Bank Pharmaceuticals (NASDAQ:SBPH)

Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapeutics using small molecule nucleic acid hybrid (SMNH) chemistry platform. The company's lead SMNH product candidate is inarigivir soproxil, for the treatment of chronic hepatitis B virus (HBV).

Further Reading: Fundamental Analysis and Individual Investors

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