American Assets Inc. Takes $553,000 Position in ARS Pharmaceuticals, Inc. $SPRY

American Assets Inc. bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 55,000 shares of the company’s stock, valued at approximately $553,000. ARS Pharmaceuticals makes up approximately 0.2% of American Assets Inc.’s portfolio, making the stock its 23rd biggest holding. American Assets Inc. owned 0.06% of ARS Pharmaceuticals at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. acquired a new position in ARS Pharmaceuticals in the second quarter valued at approximately $30,154,000. Octagon Capital Advisors LP grew its position in shares of ARS Pharmaceuticals by 116.0% during the second quarter. Octagon Capital Advisors LP now owns 1,350,000 shares of the company’s stock worth $23,558,000 after acquiring an additional 725,000 shares during the last quarter. Next Century Growth Investors LLC acquired a new position in shares of ARS Pharmaceuticals in the 2nd quarter valued at $10,868,000. Aberdeen Group plc boosted its stake in shares of ARS Pharmaceuticals by 49.9% during the second quarter. Aberdeen Group plc now owns 1,502,575 shares of the company’s stock worth $26,220,000 after buying an additional 499,916 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of ARS Pharmaceuticals in the second quarter valued at approximately $5,935,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 21,828 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $8.71, for a total value of $190,121.88. Following the completion of the sale, the chief operating officer owned 10,789 shares in the company, valued at approximately $93,972.19. This trade represents a 66.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Chakma sold 166,380 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total value 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 corporate insiders.

ARS Pharmaceuticals Stock Up 3.7%

SPRY opened at $10.03 on Friday. ARS Pharmaceuticals, Inc. has a 12 month low of $6.66 and a 12 month high of $18.90. The stock has a market cap of $991.47 million, a P/E ratio of -12.38 and a beta of 0.79. The stock’s 50 day moving average price is $10.66 and its 200 day moving average price is $11.20. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.66 and a quick ratio of 6.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last released 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). ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. The business had revenue of $32.50 million for the quarter, compared to analyst estimates of $28.87 million. As a group, research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPRY. Zacks Research downgraded ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Roth Mkm started 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. Four equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.