The stock of Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) is now priced at $1.63 and the shares are 0.23 points up or 16.43% higher compared to its previous closing price of $1.4. The stock had 102469 contracts set over the past session. SBPH shares’ daily volume is compared to its average trading volume at 112166 shares. However, it has a float of 15.69 million and although its performance was 4.49% over the week, it’s one to watch. Analysts have given the SBPH stock a yearly average price target of $1.75 per share. It means the stock’s upside potential is 7.36% with the SBPH share price recently placing at $1.4201 to $1.66. However, some brokerage firms have priced the stock below the average, including one that has called $1.5.
The shorts are running away from the Spring Bank Pharmaceuticals, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the SBPH shares have declined. Short interest in the stock represents just 0.35% of its float, but the volume has dropped by -16557. The volume of shorted shares dropped to 54565 from 71122 shares over the last two weeks. The average intraday trading volume has been 39464 shares, which means that days to cover moved to roughly 1.382653.
In the last trading session, Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) raised by $0.07 over the week and gained $0.02 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.7. The stock recorded its established 52-week high on 07/18/19.
Since 03/16/20, the stock has traded to a low of $0.8 at 103.75%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.25. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Spring Bank Pharmaceuticals, Inc.’s two-week RSI is 57.17. This suggests that the stock is neutral at the moment and that SBPH shares’ price movement remains stable. The stochastic readings are equally revealing at 38.93% meaning the SBPH share price is currently in neutral territory.
The technical chart shows that the SBPH stock will likely settle at between $1.72 and $1.8099 per share. However, if the stock dips below $1.4801, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.3301.
Currently, the stock is trading in the red of MACD, with a reading of -0.0156. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Jefferies cut their recommendation for SBPH from Buy to Hold in January 30 review while maintai their target price of $28 to $1.50. B. Riley FBR analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $16 to $2 in a flash note released to investors on December 30. Jefferies analysts see the stock as Buy when the analysts initiated the share price coverage on October 09.
The average rating for the SBPH equity is 3 and is currently gathering a bullish momentum. Of 2 analysts tracking Spring Bank Pharmaceuticals, Inc. polled by Reuters, 2 rated SBPH as a hold. The remaining 0 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.