Wellington Management Group LLP Has $1.72 Million Stock Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Wellington Management Group LLP boosted its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 163,252 shares of the company’s stock after purchasing an additional 917 shares during the period. Wellington Management Group LLP owned 0.17% of ARS Pharmaceuticals worth $1,722,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SPRY. KLP Kapitalforvaltning AS acquired a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at approximately $73,000. Compass Capital Corp MA ADV acquired a new stake in ARS Pharmaceuticals in the fourth quarter valued at $106,000. Teacher Retirement System of Texas bought a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at about $122,000. Stifel Financial Corp bought a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $199,000. Finally, Amica Mutual Insurance Co. acquired a new position in shares of ARS Pharmaceuticals during the 4th quarter worth about $151,000. 68.16% of the stock is currently owned by institutional investors.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $14.05 on Friday. The firm has a 50-day moving average of $12.00 and a 200-day moving average of $13.04. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51. The stock has a market cap of $1.38 billion, a PE ratio of -27.55 and a beta of 0.86.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.56. The business had revenue of $86.58 million for the quarter, compared to analyst estimates of $15.46 million. Equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the transaction, the director now directly owns 210,346 shares of the company’s stock, valued at $2,589,359.26. This trade represents a 19.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Thursday, March 20th. 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 7,696 shares of the company’s stock, valued at $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,602 shares of company stock worth $1,926,541 in the last 90 days. Company insiders own 40.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPRY. Leerink Partners lifted their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Oppenheimer initiated coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They set an “outperform” rating and a $40.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Raymond James upped their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Scotiabank initiated coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price for the company. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $31.00.

ARS Pharmaceuticals Company Profile

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.