Aspire Biopharma Stock Set to Reverse Split on Monday, May 11th (NASDAQ:ASBP)
by Scott Moore · The Cerbat GemAspire Biopharma Holdings, Inc. (NASDAQ:ASBP – Free Report)’s stock is set to reverse split before the market opens on Monday, May 11th. The 1-30 reverse split was announced on Thursday, May 7th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, May 8th.
Aspire Biopharma Trading Down 16.7%
ASBP stock traded down $0.03 during midday trading on Thursday, hitting $0.16. The company’s stock had a trading volume of 160,902,912 shares, compared to its average volume of 9,635,640. The company has a market cap of $778,720.00, a PE ratio of -0.01 and a beta of 0.21. Aspire Biopharma has a 12 month low of $0.12 and a 12 month high of $35.01. The firm’s 50-day moving average is $0.84 and its 200-day moving average is $3.49.
Aspire Biopharma (NASDAQ:ASBP – Get Free Report) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $0.00 million during the quarter.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on ASBP shares. Wall Street Zen raised Aspire Biopharma to a “sell” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aspire Biopharma in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.
View Our Latest Stock Analysis on Aspire Biopharma
Institutional Investors Weigh In On Aspire Biopharma
Hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Aspire Biopharma in the 3rd quarter worth $28,000. XTX Topco Ltd increased its stake in shares of Aspire Biopharma by 853.2% in the 4th quarter. XTX Topco Ltd now owns 265,471 shares of the company’s stock worth $35,000 after purchasing an additional 237,620 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Aspire Biopharma by 625.8% in the 2nd quarter. Jane Street Group LLC now owns 152,552 shares of the company’s stock worth $41,000 after purchasing an additional 131,533 shares in the last quarter. 19.17% of the stock is currently owned by hedge funds and other institutional investors.
Aspire Biopharma Company Profile
Aspire Biopharma Inc is a specialty pharmaceutical company dedicated to developing and commercializing inhaled therapeutics for cardiopulmonary emergencies and respiratory diseases. The firm leverages proprietary formulation and drug-delivery technologies to repurpose established active pharmaceutical ingredients, aiming to enhance onset of action and improve patient convenience in acute settings. Aspire’s focus on pulmonary administration differentiates its approach from traditional oral or injectable treatments for asthma, allergic reactions, and other respiratory conditions.
The company’s lead asset is a reformulated metered-dose inhaler version of epinephrine designed to serve as an over-the-counter or prescription rescue therapy for acute bronchospasm and anaphylaxis.