Voya Investment Management LLC Reduces Stock Position in ARS Pharmaceuticals, Inc. $SPRY

Voya Investment Management LLC cut its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,723 shares of the company’s stock after selling 1,554 shares during the quarter. Voya Investment Management LLC owned approximately 0.07% of ARS Pharmaceuticals worth $827,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SPRY. ANTIPODES PARTNERS Ltd purchased a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at $37,000. PNC Financial Services Group Inc. boosted its stake in ARS Pharmaceuticals by 78,100.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock valued at $49,000 after purchasing an additional 3,905 shares during the period. BNP Paribas Financial Markets acquired a new position in ARS Pharmaceuticals during the 4th quarter valued at about $75,000. AQR Capital Management LLC acquired a new position in ARS Pharmaceuticals during the 1st quarter valued at about $140,000. Finally, Foster & Motley Inc. bought a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth about $186,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, major shareholder James E. Flynn sold 740,149 shares of the business’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $18.46, for a total transaction of $13,663,150.54. Following the transaction, the insider directly owned 4,887,254 shares in the company, valued at approximately $90,218,708.84. The trade was a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sarina Tanimoto sold 37,656 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total transaction of $530,573.04. Following the sale, the insider directly owned 1,247,447 shares of the company’s stock, valued at $17,576,528.23. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 867,649 shares of company stock valued at $15,533,760 in the last 90 days. Company insiders own 33.50% of the company’s stock.

ARS Pharmaceuticals Stock Down 3.1%

Shares of NASDAQ:SPRY opened at $9.63 on Thursday. The firm has a market cap of $951.73 million, a P/E ratio of -19.65 and a beta of 0.87. 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, Inc. has a 12 month low of $9.38 and a 12 month high of $18.90. The company’s 50-day moving average price is $14.01 and its two-hundred day moving average price is $14.28.

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

Analysts Set New Price Targets

SPRY has been the topic of a number of research reports. Roth Capital began coverage on shares of ARS Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $40.00 target price on the stock. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat.com, ARS Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $32.50.

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.