Alliancebernstein L.P. Has $40.94 Million Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Alliancebernstein L.P. increased its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 5,168.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,880,734 shares of the company's stock after acquiring an additional 3,807,074 shares during the quarter. Alliancebernstein L.P. owned approximately 3.99% of ARS Pharmaceuticals worth $40,942,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SPRY. KLP Kapitalforvaltning AS bought a new position in shares of ARS Pharmaceuticals in the fourth quarter worth $73,000. Compass Capital Corp MA ADV bought a new position in ARS Pharmaceuticals during the fourth quarter valued at about $106,000. Teacher Retirement System of Texas bought a new position in ARS Pharmaceuticals during the fourth quarter valued at about $122,000. Quarry LP bought a new position in ARS Pharmaceuticals during the third quarter valued at about $174,000. Finally, Stifel Financial Corp purchased a new stake in shares of ARS Pharmaceuticals during the third quarter valued at $199,000. 68.16% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now directly owns 7,696 shares of the company's stock, valued at $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura Shawver sold 50,002 shares of ARS Pharmaceuticals stock in a transaction on Monday, April 7th. The stock was sold at an average price of $12.30, for a total value of $615,024.60. Following the sale, the director now directly owns 210,346 shares of the company's stock, valued at approximately $2,587,255.80. This trade represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 159,602 shares of company stock valued at $1,926,541. Company insiders own 40.10% of the company's stock.

Remove Ads

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock traded down $0.02 during midday trading on Thursday, hitting $13.32. 431,435 shares of the company were exchanged, compared to its average volume of 1,122,869. The firm has a market cap of $1.31 billion, a P/E ratio of -26.01 and a beta of 0.86. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 week high of $18.51. The firm has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $13.04.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million. Equities research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Raymond James upped their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a "strong-buy" rating in a report on Tuesday, January 14th. Leerink Partners increased their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a research note on Monday, January 13th. Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price objective for the company. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Oppenheimer started coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $31.00.

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.