Alphabet Inc. established a new position in Spero Therapeutics during the second quarter. The technology giant purchased 889,979 shares of the clinical-stage biopharmaceutical company.
The investment is valued at approximately $1.97 million. This purchase gives Alphabet a 1.54% ownership stake in the firm.
Spero Therapeutics' stock opened for trading at $1.19 following the 13F filing disclosure. Institutional investors and hedge funds now collectively own 25.6% of the company's shares.