Allianz Asset Management GmbH Makes New $639,000 Investment in ARS Pharmaceuticals, Inc. $SPRY

Allianz Asset Management GmbH bought a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 36,600 shares of the company’s stock, valued at approximately $639,000.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of ARS Pharmaceuticals by 7.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 368,556 shares of the company’s stock worth $4,636,000 after acquiring an additional 24,385 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of ARS Pharmaceuticals by 1.1% during the first quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock worth $49,349,000 after buying an additional 42,071 shares during the last quarter. Octagon Capital Advisors LP bought a new stake in shares of ARS Pharmaceuticals during the first quarter worth approximately $7,862,000. Oppenheimer & Co. Inc. bought a new stake in shares of ARS Pharmaceuticals during the first quarter worth approximately $189,000. Finally, Trexquant Investment LP raised its stake in shares of ARS Pharmaceuticals by 78.2% during the first quarter. Trexquant Investment LP now owns 100,769 shares of the company’s stock worth $1,268,000 after buying an additional 44,206 shares during the last quarter. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Stock Up 4.9%

Shares of NASDAQ:SPRY opened at $9.56 on Tuesday. The company has a 50 day moving average price of $10.82 and a two-hundred day moving average price of $13.94. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.98 and a current ratio of 6.17. ARS Pharmaceuticals, Inc. has a 52 week low of $9.08 and a 52 week high of $18.90. The company has a market capitalization of $944.81 million, a PE ratio of -19.51 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data 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 return on equity of 21.85% and a negative net margin of 42.74%.The company had revenue of $15.72 million for the quarter, compared to the consensus estimate of $12.92 million. Analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 37,656 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total transaction of $530,573.04. Following the completion of the sale, the insider owned 1,247,447 shares of the company’s stock, valued at $17,576,528.23. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard E. Lowenthal sold 50,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $14.49, for a total transaction of $724,500.00. Following the sale, the chief executive officer directly owned 1,196,494 shares of the company’s stock, valued at $17,337,198.06. This represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,500 shares of company stock valued at $1,615,759 over the last quarter. Corporate insiders own 33.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPRY. Zacks Research downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Raymond James Financial set a $32.00 price target on shares of ARS Pharmaceuticals in a research note on Friday, September 26th. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Roth Capital started coverage on shares of ARS Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $40.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, ARS Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $33.80.

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.