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CAMBRIDGE, MA—Ankit Mahadevia, a director at Spero Therapeutics , Inc. (NASDAQ:SPRO), recently sold a total of 69,219 shares of the company’s common stock. The transactions, which took place on February 5, 2025, were conducted at a price of $0.78 per share, amounting to a total value of approximately $53,990. The stock, currently trading at $0.88, has struggled recently, with InvestingPro data showing a 31% decline over the past six months. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels.
The sales were carried out to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs) granted in previous years. Following these transactions, Mahadevia holds 689,866 shares directly, including shares held by the Mahadevia-Mehta Family Trust, where he serves as a trustee.
These stock movements are part of routine financial planning and tax management strategies, as indicated by the "sell to cover" provision in the RSU agreements.
In other recent news, Spero Therapeutics has been in the spotlight with several significant developments. Amid a Securities and Exchange Commission (SEC) inquiry, the company announced interim leadership changes with Esther Rajavelu appointed as Interim President and CEO, and Frank Thomas as Chairman of the Board.
In the midst of these changes, Spero Therapeutics reported progress in its Phase 3 PIVOT-PO trial for Tebipenem HBr, an oral antibiotic for complicated urinary tract infections. The trial has surpassed 60% enrollment and is expected to complete by the second half of 2025. H.C. Wainwright reiterated its Buy rating on Spero Therapeutics, expressing confidence in the timeline of the PIVOT-PO program.
On the other hand, TD Cowen downgraded Spero Therapeutics from Buy to Hold due to uncertainties regarding the timing of upcoming catalysts. This followed the discontinuation of Spero’s Phase 2 program for a drug candidate aimed at treating nontuberculous mycobacterial infections. However, Spero Therapeutics continues to work on other projects, including a Phase 2 trial for SPR206, targeting bacterial pneumonia, pending non-dilutive funding.
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