Franklin Resources Inc. Sells 860,840 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Franklin Resources Inc. cut its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,976,412 shares of the company's stock after selling 860,840 shares during the quarter. Franklin Resources Inc. owned 2.03% of ARS Pharmaceuticals worth $20,851,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SPRY. Wellington Management Group LLP raised its holdings in ARS Pharmaceuticals by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock valued at $1,722,000 after buying an additional 917 shares during the last quarter. Rhumbline Advisers increased its position in 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 acquiring an additional 1,824 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of ARS Pharmaceuticals by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company's stock valued at $217,000 after acquiring an additional 1,962 shares during the last quarter. LPL Financial LLC grew its stake in shares of ARS Pharmaceuticals by 11.4% in the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company's stock worth $226,000 after purchasing an additional 2,190 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in ARS Pharmaceuticals by 4.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,641 shares of the company's stock valued at $851,000 after purchasing an additional 3,433 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares in the company, valued at approximately $2,589,359.26. The trade was a 19.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Karas sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 7,696 shares of the company's stock, valued at $107,744. This represents a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,602 shares of company stock valued at $1,926,541. Company insiders own 40.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock traded up $0.81 during trading on Friday, reaching $14.05. 2,203,480 shares of the company traded hands, compared to its average volume of 1,138,938. The firm has a market capitalization of $1.38 billion, a PE ratio of -27.55 and a beta of 0.86. The company has a 50 day moving average price of $12.00 and a 200-day moving average price of $13.04. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.52 earnings per share (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. Equities research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

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.