ARS Pharmaceuticals, Inc. $SPRY Shares Bought by AlphaQuest LLC

AlphaQuest LLC boosted its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 30.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,536 shares of the company’s stock after purchasing an additional 5,472 shares during the period. AlphaQuest LLC’s holdings in ARS Pharmaceuticals were worth $411,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. ANTIPODES PARTNERS Ltd acquired a new stake in shares of ARS Pharmaceuticals during the 1st quarter valued at $37,000. PNC Financial Services Group Inc. grew its holdings in shares of ARS Pharmaceuticals by 78,100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock worth $49,000 after acquiring an additional 3,905 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of ARS Pharmaceuticals during the first quarter worth $140,000. KLP Kapitalforvaltning AS lifted its holdings in shares of ARS Pharmaceuticals by 68.1% during the second quarter. KLP Kapitalforvaltning AS now owns 11,600 shares of the company’s stock valued at $202,000 after purchasing an additional 4,700 shares during the last quarter. Finally, Foster & Motley Inc. purchased a new stake in shares of ARS Pharmaceuticals during the first quarter valued at $186,000. 68.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $8.98 on Thursday. The business’s 50-day moving average is $10.62 and its 200-day moving average is $13.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98. The company has a market capitalization of $887.49 million, a price-to-earnings ratio of -18.33 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a fifty-two week low of $8.90 and a fifty-two week high of $18.90.

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

Insider Transactions at ARS Pharmaceuticals

In other news, CEO Richard E. Lowenthal sold 50,000 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $14.49, for a total value of $724,500.00. Following the transaction, the chief executive officer directly owned 1,196,494 shares of the company’s stock, valued at approximately $17,337,198.06. This represents a 4.01% 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, insider Sarina Tanimoto sold 37,656 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total value of $530,573.04. Following the completion of the transaction, the insider owned 1,247,447 shares in the company, valued at $17,576,528.23. This trade represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 112,500 shares of company stock valued at $1,615,759. 33.50% of the stock is owned by insiders.

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.