Jacobs Levy Equity Management Inc. Buys 288,021 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Jacobs Levy Equity Management Inc. grew its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 78.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 653,048 shares of the company's stock after purchasing an additional 288,021 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.67% of ARS Pharmaceuticals worth $9,469,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of ARS Pharmaceuticals in the third quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company's stock worth $63,000 after acquiring an additional 4,472 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of ARS Pharmaceuticals in the second quarter worth $87,000. TFG Advisers LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter worth $180,000. Finally, J.W. Cole Advisors Inc. grew its stake in shares of ARS Pharmaceuticals by 10.8% in the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company's stock worth $131,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 68.16% of the company's stock.

Insiders Place Their Bets

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $13.83, for a total value of $1,383,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,346,494 shares in the company, valued at approximately $18,622,012.02. The trade was a 6.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the business's stock in a transaction that occurred 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 owns 5,693 shares of the company's stock, valued at $79,702. This represents a 63.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,065,786 shares of company stock valued at $16,971,786. 40.10% of the stock is currently owned by insiders.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY traded up $0.02 on Friday, hitting $14.02. 727,177 shares of the stock were exchanged, compared to its average volume of 818,721. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -28.16 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a 52 week low of $5.01 and a 52 week high of $18.51. The company's 50-day moving average price is $14.80 and its 200 day moving average price is $12.18.

Wall Street Analysts Forecast Growth

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

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.