Rhumbline Advisers Has $561,000 Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Rhumbline Advisers lifted its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 78.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,942 shares of the company’s stock after buying an additional 28,888 shares during the period. Rhumbline Advisers owned about 0.07% of ARS Pharmaceuticals worth $561,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Russell Investments Group Ltd. purchased a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after purchasing an additional 4,472 shares during the last quarter. Principal Financial Group Inc. bought a new position in ARS Pharmaceuticals in the 2nd quarter worth approximately $87,000. Paloma Partners Management Co acquired a new position in ARS Pharmaceuticals during the 1st quarter valued at $103,000. Finally, SG Americas Securities LLC bought a new stake in shares of ARS Pharmaceuticals in the first quarter valued at about $119,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners increased their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Finally, Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $24.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $14.05 on Thursday. The company has a market capitalization of $1.36 billion, a P/E ratio of -27.02 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a one year low of $3.35 and a one year high of $16.50. The business’s 50 day simple moving average is $12.18 and its 200-day simple moving average is $10.16.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. On average, sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Insider Buying and Selling

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total value of $962,000.00. Following the completion of the transaction, the insider now directly owns 1,496,494 shares of the company’s stock, valued at $14,396,272.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total value of $962,000.00. Following the completion of the sale, the insider now directly owns 1,496,494 shares of the company’s stock, valued at approximately $14,396,272.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now owns 5,693 shares of the company’s stock, valued at approximately $79,702. The disclosure for this sale can be found here. Insiders have sold a total of 1,043,395 shares of company stock worth $13,650,032 in the last 90 days. Corporate insiders own 40.10% of the company’s stock.

About ARS Pharmaceuticals

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for severe allergic reactions. The company is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for the emergency treatment of Type I allergic reactions, including anaphylaxis. It serves healthcare professionals, patients, and caregivers.