ExodusPoint Capital Management LP Buys New Shares in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

ExodusPoint Capital Management LP acquired a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,628 shares of the company's stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of ARS Pharmaceuticals by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock worth $1,722,000 after acquiring an additional 917 shares in the last quarter. Rhumbline Advisers raised its position in shares of ARS Pharmaceuticals by 2.9% in the 4th quarter. Rhumbline Advisers now owns 65,163 shares of the company's stock valued at $687,000 after purchasing an additional 1,824 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of ARS Pharmaceuticals by 10.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company's stock valued at $217,000 after buying an additional 1,962 shares during the last quarter. LPL Financial LLC grew its position in shares of ARS Pharmaceuticals by 11.4% during the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company's stock worth $226,000 after buying an additional 2,190 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of ARS Pharmaceuticals by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock worth $13,066,000 after buying an additional 3,351 shares during the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

SPRY has been the topic of a number of research analyst reports. Oppenheimer began coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They set an "outperform" rating and a $40.00 price objective on the stock. Raymond James lifted their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 14th. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Leerink Partners lifted their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th. Finally, Scotiabank assumed coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Stock Up 3.6 %

Shares of NASDAQ:SPRY traded up $0.52 during trading on Tuesday, hitting $14.99. 1,258,179 shares of the company traded hands, compared to its average volume of 1,142,474. The business's fifty day moving average is $12.08 and its 200-day moving average is $13.04. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -29.39 and a beta of 0.86. ARS Pharmaceuticals, Inc. has a one year low of $7.55 and a one year high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million for the quarter, compared to the consensus estimate of $15.46 million. On average, analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Buying and Selling

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

About ARS Pharmaceuticals

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.