53,341 Shares in ARS Pharmaceuticals, Inc. $SPRY Purchased by Permanent Capital Management LP

Permanent Capital Management LP purchased a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,341 shares of the company’s stock, valued at approximately $536,000. Permanent Capital Management LP owned 0.05% of ARS Pharmaceuticals as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SPRY. Alliancebernstein L.P. boosted its stake in ARS Pharmaceuticals by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock valued at $49,349,000 after buying an additional 42,071 shares in the last quarter. Octagon Capital Advisors LP acquired a new position in ARS Pharmaceuticals during the first quarter worth $7,862,000. Trexquant Investment LP lifted its holdings 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 valued at $1,268,000 after acquiring an additional 44,206 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of ARS Pharmaceuticals by 57.8% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 68,094 shares of the company’s stock valued at $1,188,000 after acquiring an additional 24,950 shares during the period. Finally, Harbour Capital Advisors LLC boosted its stake in shares of ARS Pharmaceuticals by 102.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 57,950 shares of the company’s stock valued at $971,000 after purchasing an additional 29,300 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors.

ARS Pharmaceuticals Trading Down 0.9%

SPRY opened at $11.38 on Monday. ARS Pharmaceuticals, Inc. has a 1-year low of $6.66 and a 1-year high of $18.90. The stock has a market capitalization of $1.12 billion, a PE ratio of -14.05 and a beta of 0.82. The company has a current ratio of 6.66, a quick ratio of 6.51 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $9.40 and a two-hundred day moving average price of $12.44.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly 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). ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. The company had revenue of $32.50 million for the quarter, compared to the consensus estimate of $28.87 million. As a group, equities analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Justin Chakma sold 166,380 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total transaction of $1,475,790.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Dorsey sold 21,828 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $8.71, for a total transaction of $190,121.88. Following the transaction, the chief operating officer owned 10,789 shares in the company, valued at approximately $93,972.19. The trade was a 66.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 33.50% of the stock is currently owned by company 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.