Price T Rowe Associates Inc. MD Reduces Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Price T Rowe Associates Inc. MD trimmed its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 95.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,918 shares of the company’s stock after selling 442,601 shares during the period. Price T Rowe Associates Inc. MD’s holdings in ARS Pharmaceuticals were worth $211,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of ARS Pharmaceuticals by 93.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company’s stock valued at $3,631,000 after buying an additional 165,950 shares during the last quarter. Wells Fargo & Company MN increased its position in ARS Pharmaceuticals by 47.1% during the fourth quarter. Wells Fargo & Company MN now owns 41,701 shares of the company’s stock worth $440,000 after buying an additional 13,361 shares during the period. Peregrine Capital Management LLC purchased a new stake in ARS Pharmaceuticals in the fourth quarter valued at approximately $4,469,000. Vanguard Group Inc. lifted its stake in ARS Pharmaceuticals by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock valued at $36,555,000 after buying an additional 115,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of ARS Pharmaceuticals by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 427,477 shares of the company’s stock valued at $4,510,000 after acquiring an additional 3,530 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPRY has been the topic of a number of recent research reports. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Scotiabank began coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.00.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the 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 completion of the transaction, the insider now owns 7,696 shares in the company, valued at approximately $107,744. This represents a 56.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Laura Shawver sold 50,002 shares of the firm’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $12.30, for a total value of $615,024.60. Following the completion of the sale, the director now directly owns 210,346 shares of the company’s stock, valued at approximately $2,587,255.80. This trade represents a 19.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,602 shares of company stock worth $1,311,041 over the last 90 days. Company insiders own 33.50% of the company’s stock.

ARS Pharmaceuticals Price Performance

NASDAQ:SPRY opened at $13.60 on Friday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -26.67 and a beta of 0.84. The firm’s fifty day moving average price is $13.34 and its 200 day moving average price is $12.89. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting the consensus estimate of ($0.35). The firm had revenue of $7.97 million during the quarter, compared to analysts’ expectations of $7.48 million. As a group, analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

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.