Levin Capital Strategies L.P. Purchases 168,201 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Levin Capital Strategies L.P. boosted its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 56.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,627 shares of the company's stock after purchasing an additional 168,201 shares during the quarter. Levin Capital Strategies L.P. owned about 0.48% of ARS Pharmaceuticals worth $4,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Compass Capital Corp MA ADV bought a new position in ARS Pharmaceuticals during the fourth quarter valued at approximately $106,000. Quarry LP bought a new position in ARS Pharmaceuticals during the third quarter valued at approximately $174,000. Stifel Financial Corp bought a new position in shares of ARS Pharmaceuticals in the third quarter worth approximately $199,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of ARS Pharmaceuticals by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company's stock worth $217,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of ARS Pharmaceuticals in the third quarter worth approximately $239,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ARS Pharmaceuticals

In other 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 value of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares of the company's stock, valued at $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 available through the SEC website. Also, COO Brian Dorsey sold 25,000 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $12.30, for a total value of $307,500.00. Following the completion of the transaction, the chief operating officer now directly owns 6,024 shares of the company's stock, valued at approximately $74,095.20. This trade represents a 80.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 402,272 shares of company stock valued at $5,001,400 in the last quarter. 40.10% of the stock is owned by insiders.

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ARS Pharmaceuticals Trading Up 3.4 %

ARS Pharmaceuticals stock traded up $0.36 on Wednesday, hitting $10.87. 1,293,697 shares of the stock traded hands, compared to its average volume of 1,324,536. The firm has a market cap of $1.06 billion, a P/E ratio of -21.31 and a beta of 0.99. The business's fifty day simple moving average is $11.89 and its 200 day simple moving average is $13.19. ARS Pharmaceuticals, Inc. has a 1 year low of $7.55 and a 1 year high of $18.51.

Analyst Ratings Changes

SPRY has been the topic of several recent analyst reports. Leerink Partners raised their target price on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an "outperform" rating and a $40.00 target price on the stock. Raymond James raised their target price on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 14th. Finally, William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $28.80.

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.