Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) Sees Large Drop in Short Interest

Aspire Biopharma Holdings, Inc. (NASDAQ:ASBP) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 13,598 shares, a decline of 60.8% from the September 15th total of 34,666 shares. Based on an average daily volume of 32,535 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.0% of the company’s shares are sold short.

Aspire Biopharma Price Performance

NASDAQ ASBP traded up $0.61 during trading hours on Tuesday, hitting $8.39. The company had a trading volume of 20,163 shares, compared to its average volume of 283,012. Aspire Biopharma has a fifty-two week low of $3.31 and a fifty-two week high of $562.92. The company has a market capitalization of $11.77 million, a price-to-earnings ratio of -0.12 and a beta of 0.17. The firm’s 50 day moving average is $8.30 and its 200 day moving average is $9.68.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Aspire Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Aspire Biopharma Company Profile

Aspire Biopharma, Inc is a biotechnology company focused on developing rapid drug-delivery technologies and pharmaceutical products. The company’s platform is designed to administer medications through the sublingual and buccal tissues of the mouth, with the goal of enabling faster absorption than conventional oral tablets.

Aspire Biopharma’s lead product candidate is an orally delivered, fast-acting aspirin formulation intended for potential use in cardiovascular emergencies and other situations in which rapid aspirin administration may be beneficial.