Ardsley Advisory Partners LP Boosts Stock Position in ARS Pharmaceuticals, Inc. $SPRY

Ardsley Advisory Partners LP raised its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 46.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 475,000 shares of the company’s stock after purchasing an additional 150,000 shares during the period. ARS Pharmaceuticals comprises approximately 1.1% of Ardsley Advisory Partners LP’s holdings, making the stock its 26th largest holding. Ardsley Advisory Partners LP owned about 0.48% of ARS Pharmaceuticals worth $8,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SPRY. PNC Financial Services Group Inc. increased its stake in shares of ARS Pharmaceuticals by 78,100.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock worth $49,000 after buying an additional 3,905 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in ARS Pharmaceuticals by 16.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock valued at $98,000 after acquiring an additional 777 shares during the last quarter. RiverPark Advisors LLC acquired a new position in ARS Pharmaceuticals during the 2nd quarter worth $100,000. Nisa Investment Advisors LLC increased its position in shares of ARS Pharmaceuticals by 10.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,281 shares of the company’s stock worth $110,000 after purchasing an additional 590 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of ARS Pharmaceuticals in the 1st quarter worth about $140,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SPRY. Raymond James Financial set a $32.00 price target on ARS Pharmaceuticals in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Roth Capital initiated coverage on ARS Pharmaceuticals in a report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target for the company. Finally, Zacks Research raised ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.80.

Insiders Place Their Bets

In other news, COO Brian Dorsey sold 21,828 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $8.71, for a total transaction of $190,121.88. Following the transaction, the chief operating officer directly owned 10,789 shares of the company’s stock, valued at approximately $93,972.19. This trade represents a 66.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Chakma sold 166,380 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total transaction of $1,475,790.60. The disclosure for this sale is available in the SEC filing. 33.50% of the stock is currently owned by company insiders.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY opened at $9.93 on Wednesday. ARS Pharmaceuticals, Inc. has a 12-month low of $6.66 and a 12-month high of $18.90. The company has a market cap of $981.58 million, a PE ratio of -12.26 and a beta of 0.82. The stock has a 50 day simple moving average of $9.36 and a 200-day simple moving average of $12.78. The company has a current ratio of 6.66, a quick ratio of 6.51 and a debt-to-equity ratio of 1.14.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.07). The business had revenue of $32.50 million during the quarter, compared to analyst estimates of $28.87 million. ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. On average, equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

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.