In a filing, Spruce Biosciences Inc revealed its 10% Owner Novo Holdings A/S unloaded Company’s shares for reported $0.35 million on Mar 21 ’24. In the deal valued at $0.75 per share,465,021 shares were sold. As a result of this transaction, Novo Holdings A/S now holds 2,550,000 shares worth roughly $0.99 million.
Then, Novo Holdings A/S sold 842,020 shares, generating $647,008 in total proceeds. Upon selling the shares at $0.77, the 10% Owner now owns 3,968,000 shares.
Before that, Novo Holdings A/S sold 593,000 shares. Spruce Biosciences Inc shares valued at $447,715 were divested by the 10% Owner at a price of $0.76 per share. As a result of the transaction, Novo Holdings A/S now holds 3,375,000 shares, worth roughly $1.32 million.
Oppenheimer downgraded its Spruce Biosciences Inc [SPRB] rating to a Perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including JMP Securities’s analysts, who decreased its forecast for the stock in mid December from “a Mkt outperform” to “a Mkt perform”. RBC Capital Mkts also remained covering SPRB and has decreased its forecast on March 14, 2024 with a “Sector perform” recommendation from previously “an Outperform” rating. Leerink Partners revised its rating on March 14, 2024. It rated SPRB as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of SPRB
On Tuesday, Spruce Biosciences Inc [NASDAQ:SPRB] saw its stock fall -2.50% to $0.39. Over the last five days, the stock has lost -8.36%. Spruce Biosciences Inc shares have fallen nearly -7.14% since the year began. Nevertheless, the stocks have fallen -86.73% over the past one year. While a 52-week high of $5.95 was reached on 01/06/25, a 52-week low of $0.37 was recorded on 01/07/25. SMA at 50 days reached $0.4838, while 200 days put it at $0.5644.
Levels Of Support And Resistance For SPRB Stock
The 24-hour chart illustrates a support level at 0.3765, which if violated will result in even more drops to 0.3629. On the upside, there is a resistance level at 0.4083. A further resistance level may holdings at 0.4265. The Relative Strength Index (RSI) on the 14-day chart is 38.89, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0002, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.20%. Stochastics %K at 47.81% indicates the stock is a holding.
How much short interest is there in Spruce Biosciences Inc?
A steep rise in short interest was recorded in Spruce Biosciences Inc stocks on 2024-12-13, growing by 0.15 million shares to a total of 0.22 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 71034.0 shares. There was a rise of 67.56%, which implies that there is a positive sentiment for the stock.
