Connor Clark & Lunn Investment Management Ltd. acquired a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 77,208 shares of the company's stock, valued at approximately $1,120,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of ARS Pharmaceuticals at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. First Turn Management LLC acquired a new position in shares of ARS Pharmaceuticals in the third quarter worth about $8,603,000. Royce & Associates LP boosted its stake in ARS Pharmaceuticals by 7.1% in the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company's stock worth $10,026,000 after purchasing an additional 45,755 shares during the period. GSA Capital Partners LLP grew its position in ARS Pharmaceuticals by 67.7% during the 3rd quarter. GSA Capital Partners LLP now owns 98,900 shares of the company's stock worth $1,434,000 after purchasing an additional 39,921 shares in the last quarter. US Bancorp DE raised its stake in ARS Pharmaceuticals by 11,951.6% during the 3rd quarter. US Bancorp DE now owns 18,680 shares of the company's stock valued at $271,000 after purchasing an additional 18,525 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of ARS Pharmaceuticals by 63.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,645 shares of the company's stock valued at $270,000 after purchasing an additional 7,262 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors.
Insider Activity
In other news, major shareholder James E. Flynn sold 528,456 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the completion of the transaction, the insider now directly owns 5,274,735 shares of the company's stock, valued at approximately $95,156,219.40. This trade represents a 9.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Chakma sold 25,000 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares in the company, valued at approximately $1,962,508.20. The trade was a 15.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 908,770 shares of company stock valued at $14,856,492 over the last 90 days. 40.10% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
SPRY has been the subject of several research analyst reports. Leerink Partners increased their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Raymond James upgraded shares of ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Finally, William Blair raised shares of ARS Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $24.00.
Check Out Our Latest Research Report on ARS Pharmaceuticals
ARS Pharmaceuticals Price Performance
SPRY traded up $0.16 during midday trading on Thursday, hitting $14.53. 674,182 shares of the company's stock traded hands, compared to its average volume of 816,657. The company has a market cap of $1.41 billion, a PE ratio of -28.49 and a beta of 0.90. The stock's fifty day simple moving average is $14.83 and its 200-day simple moving average is $11.99. ARS Pharmaceuticals, Inc. has a one year low of $4.65 and a one year high of $18.51.
ARS Pharmaceuticals Profile
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Free Report)
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.
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