First Turn Management LLC Takes Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

First Turn Management LLC bought a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 593,291 shares of the company's stock, valued at approximately $8,603,000. First Turn Management LLC owned about 0.61% of ARS Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new position in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $30,000. Russell Investments Group Ltd. acquired a new position in ARS Pharmaceuticals in the first quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company's stock valued at $63,000 after acquiring an additional 4,472 shares during the period. Principal Financial Group Inc. purchased a new stake in ARS Pharmaceuticals in the 2nd quarter worth approximately $87,000. Finally, Paloma Partners Management Co acquired a new stake in shares of ARS Pharmaceuticals during the 1st quarter worth approximately $103,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder James E. Flynn sold 528,456 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the completion of the sale, the insider now directly owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Karas sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were 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 directly owns 5,693 shares of the company's stock, valued at approximately $79,702. This represents a 63.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,411,851 shares of company stock worth $21,559,378 in the last 90 days. Insiders own 40.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPRY. Raymond James raised shares of ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and increased their price target for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Leerink Partners lifted their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Finally, William Blair raised ARS Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $24.00.

ARS Pharmaceuticals Trading Up 0.1 %

SPRY traded up $0.01 during midday trading on Tuesday, hitting $13.79. 1,125,305 shares of the company traded hands, compared to its average volume of 813,543. The business has a 50 day simple moving average of $14.72 and a two-hundred day simple moving average of $11.81. ARS Pharmaceuticals, Inc. has a 52-week low of $4.64 and a 52-week high of $18.51. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -27.04 and a beta of 0.90.

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.