Ameriprise Financial Inc. Buys 36,928 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Ameriprise Financial Inc. increased its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 113.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 69,376 shares of the company’s stock after purchasing an additional 36,928 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.07% of ARS Pharmaceuticals worth $732,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. KLP Kapitalforvaltning AS bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $73,000. Compass Capital Corp MA ADV bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $106,000. Teacher Retirement System of Texas bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $122,000. Freestone Grove Partners LP bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $132,000. Finally, Amica Mutual Insurance Co. bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at $151,000. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock opened at $14.46 on Tuesday. The stock has a market cap of $1.42 billion, a P/E ratio of -28.35 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The firm’s fifty day moving average price is $13.85 and its 200-day moving average price is $12.80.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.48 million. Sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SPRY shares. Wall Street Zen cut shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Oppenheimer began coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target on the stock. Scotiabank began coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price target on the stock. Finally, William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the completion of the sale, the insider now directly owns 89,613 shares in the company, valued at $1,263,543.30. This represents a 53.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brent L. Saunders sold 120,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.25, for a total transaction of $1,710,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 382,571 shares of company stock valued at $5,177,904 over the last 90 days. 33.50% of the stock is owned by insiders.

ARS Pharmaceuticals 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.