Miura Global Management LLC Takes $3.92 Million Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Miura Global Management LLC bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 270,000 shares of the company's stock, valued at approximately $3,915,000. ARS Pharmaceuticals accounts for about 4.5% of Miura Global Management LLC's portfolio, making the stock its 8th largest position. Miura Global Management LLC owned 0.28% of ARS Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of SPRY. Vanguard Group Inc. boosted its stake in shares of ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company's stock worth $29,500,000 after buying an additional 779,969 shares during the period. First Turn Management LLC bought a new stake in shares of ARS Pharmaceuticals in the 3rd quarter worth about $8,603,000. SG Americas Securities LLC boosted its stake in ARS Pharmaceuticals by 861.5% during the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company's stock valued at $950,000 after purchasing an additional 99,986 shares during the period. Royce & Associates LP raised its holdings in shares of ARS Pharmaceuticals by 7.1% in the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company's stock worth $10,026,000 after purchasing an additional 45,755 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of ARS Pharmaceuticals during the third quarter valued at approximately $2,584,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Justin Chakma sold 25,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $14.39, for a total value of $359,750.00. Following the sale, the insider now directly owns 136,380 shares in the company, valued at approximately $1,962,508.20. This trade represents a 15.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James E. Flynn sold 528,456 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $18.04, for a total value of $9,533,346.24. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 908,770 shares of company stock valued at $14,856,492. 40.10% of the stock is owned by company insiders.

ARS Pharmaceuticals Stock Performance

SPRY stock traded up $0.81 on Wednesday, hitting $14.42. 969,320 shares of the company's stock were exchanged, compared to its average volume of 817,472. The firm has a 50 day moving average price of $14.80 and a two-hundred day moving average price of $12.15. The stock has a market cap of $1.40 billion, a P/E ratio of -26.69 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a 12-month low of $5.01 and a 12-month high of $18.51.

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.