Vanguard Group Inc. Has $43.88 Million Holdings in ARS Pharmaceuticals, Inc. $SPRY

Vanguard Group Inc. boosted its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 0.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,488,293 shares of the company’s stock after acquiring an additional 23,341 shares during the quarter. Vanguard Group Inc. owned 3.55% of ARS Pharmaceuticals worth $43,883,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SPRY. Alyeska Investment Group L.P. lifted its holdings in shares of ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company’s stock valued at $13,227,000 after purchasing an additional 1,128,724 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in ARS Pharmaceuticals by 149.0% during the first quarter. Levin Capital Strategies L.P. now owns 1,164,601 shares of the company’s stock worth $14,651,000 after buying an additional 696,974 shares in the last quarter. Millennium Management LLC raised its position in ARS Pharmaceuticals by 93.0% in the 4th quarter. Millennium Management LLC now owns 939,278 shares of the company’s stock valued at $9,909,000 after buying an additional 452,532 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in ARS Pharmaceuticals by 1,552.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 448,669 shares of the company’s stock valued at $5,644,000 after acquiring an additional 421,511 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in ARS Pharmaceuticals by 1,431.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 344,941 shares of the company’s stock worth $3,639,000 after acquiring an additional 322,423 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $31.00.

ARS Pharmaceuticals Stock Up 0.1%

SPRY opened at $13.51 on Tuesday. ARS Pharmaceuticals, Inc. has a twelve month low of $10.00 and a twelve month high of $18.90. The company’s 50-day moving average price is $16.77 and its two-hundred day moving average price is $14.39. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -27.57 and a beta of 0.90. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.The company had revenue of $15.72 million during the quarter, compared to the consensus estimate of $12.92 million. As a group, equities analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Sarina Tanimoto sold 37,656 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total value of $530,573.04. Following the completion of the sale, the insider owned 1,247,447 shares of the company’s stock, valued at approximately $17,576,528.23. This trade represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard E. Lowenthal sold 50,000 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $14.49, for a total value of $724,500.00. Following the completion of the sale, the chief executive officer owned 1,196,494 shares in the company, valued at $17,337,198.06. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 882,649 shares of company stock valued at $15,773,760. Company insiders own 33.50% of the company’s stock.

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.