JPMorgan Chase & Co. Buys 13,190 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

JPMorgan Chase & Co. increased its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 73.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,112 shares of the company’s stock after buying an additional 13,190 shares during the quarter. JPMorgan Chase & Co.’s holdings in ARS Pharmaceuticals were worth $328,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS purchased a new position in ARS Pharmaceuticals during the fourth quarter valued at approximately $73,000. Compass Capital Corp MA ADV bought a new position in ARS Pharmaceuticals in the 4th quarter worth approximately $106,000. Teacher Retirement System of Texas purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at approximately $122,000. SBI Securities Co. Ltd. bought a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $175,000. Finally, Aigen Investment Management LP purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter valued at about $216,000. 68.16% of the stock is currently owned by institutional investors.

ARS Pharmaceuticals Stock Up 2.1 %

NASDAQ SPRY opened at $14.46 on Friday. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 week high of $18.51. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -28.35 and a beta of 0.86. The company has a fifty day moving average of $12.81 and a two-hundred day moving average of $13.06.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Thursday, March 20th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.56. The firm had revenue of $86.58 million for the quarter, compared to the consensus estimate of $15.46 million. Equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now directly owns 7,696 shares of the company’s stock, valued at $107,744. The trade was a 56.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Laura Shawver sold 49,600 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $11.21, for a total transaction of $556,016.00. Following the completion of the sale, the director now owns 210,346 shares of the company’s stock, valued at approximately $2,357,978.66. This represents a 19.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,602 shares of company stock worth $1,926,541. 40.10% of the stock is currently owned by company insiders.

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.