Ra Capital Management, L.P. Purchases 3,750,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Ra Capital Management, L.P. purchased 3,750,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $23,250,000.00. Following the completion of the acquisition, the director now owns 5,856,774 shares of the company’s stock, valued at $36,311,998.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

ARS Pharmaceuticals Trading Up 0.3 %

Shares of SPRY stock opened at $7.11 on Friday. The firm’s fifty day moving average price is $6.88 and its two-hundred day moving average price is $7.09. ARS Pharmaceuticals, Inc. has a 1 year low of $3.99 and a 1 year high of $9.65.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The firm had revenue of $0.01 million during the quarter. On average, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System bought a new position in shares of ARS Pharmaceuticals in the second quarter valued at $71,000. FAS Wealth Partners Inc. bought a new position in shares of ARS Pharmaceuticals in the 2nd quarter valued at about $229,000. Janney Montgomery Scott LLC acquired a new position in shares of ARS Pharmaceuticals during the 2nd quarter worth about $268,000. Teacher Retirement System of Texas bought a new stake in shares of ARS Pharmaceuticals in the 2nd quarter valued at about $69,000. Finally, Shell Asset Management Co. acquired a new stake in ARS Pharmaceuticals in the 2nd quarter valued at about $438,000. 57.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wedbush reissued an “outperform” rating and issued a $15.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, August 14th.

ARS Pharmaceuticals Company Profile

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for patients and parents affected by severe allergic reactions. It is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for patients and their caregivers with type I allergic reactions, including anaphylaxis.