Bank of New York Mellon Corp Increases Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Bank of New York Mellon Corp increased its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 99.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,285 shares of the company's stock after acquiring an additional 69,394 shares during the period. Bank of New York Mellon Corp owned about 0.14% of ARS Pharmaceuticals worth $1,185,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in ARS Pharmaceuticals by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company's stock valued at $22,460,000 after purchasing an additional 229,988 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in ARS Pharmaceuticals by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,453 shares of the company's stock valued at $189,000 after purchasing an additional 7,348 shares during the period. FAS Wealth Partners Inc. grew its holdings in ARS Pharmaceuticals by 31.5% during the first quarter. FAS Wealth Partners Inc. now owns 60,470 shares of the company's stock valued at $618,000 after purchasing an additional 14,500 shares during the period. J.W. Cole Advisors Inc. bought a new position in ARS Pharmaceuticals during the first quarter valued at $142,000. Finally, Capstone Investment Advisors LLC bought a new position in ARS Pharmaceuticals during the first quarter valued at $739,000. 68.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPRY. Raymond James raised ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Leerink Partners increased their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, William Blair upgraded ARS Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $24.00.

ARS Pharmaceuticals Stock Down 0.6 %

Shares of SPRY stock traded down $0.09 on Friday, reaching $14.77. The company's stock had a trading volume of 1,414,248 shares, compared to its average volume of 752,204. ARS Pharmaceuticals, Inc. has a 12-month low of $2.75 and a 12-month high of $16.50. The company has a market capitalization of $1.43 billion, a P/E ratio of -28.40 and a beta of 0.90. The stock's 50 day simple moving average is $12.03 and its 200-day simple moving average is $10.05.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. Research analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of the firm's stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total transaction of $962,000.00. Following the sale, the insider now owns 1,496,494 shares in the company, valued at $14,396,272.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the sale, the insider now owns 5,693 shares in the company, valued at $79,702. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sarina Tanimoto sold 100,000 shares of the firm's stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total value of $962,000.00. Following the transaction, the insider now directly owns 1,496,494 shares in the company, valued at $14,396,272.28. The disclosure for this sale can be found here. Insiders have sold 1,043,395 shares of company stock worth $13,650,032 over the last 90 days. Corporate insiders own 40.10% of the company's stock.

ARS Pharmaceuticals 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.