SG Americas Securities LLC Sells 53,288 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

SG Americas Securities LLC reduced its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 47.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,304 shares of the company's stock after selling 53,288 shares during the quarter. SG Americas Securities LLC owned about 0.06% of ARS Pharmaceuticals worth $845,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in shares of ARS Pharmaceuticals during the first quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company's stock worth $63,000 after buying an additional 4,472 shares in the last quarter. Paloma Partners Management Co purchased a new position in ARS Pharmaceuticals during the first quarter worth about $103,000. Principal Financial Group Inc. purchased a new position in ARS Pharmaceuticals during the second quarter worth about $87,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of ARS Pharmaceuticals in the 1st quarter worth about $142,000. Institutional investors and hedge funds own 68.16% of the company's stock.

ARS Pharmaceuticals Trading Up 4.4 %

SPRY traded up $0.61 during trading on Friday, hitting $14.52. 683,926 shares of the company's stock traded hands, compared to its average volume of 755,444. The company's 50 day simple moving average is $13.02 and its two-hundred day simple moving average is $10.61. ARS Pharmaceuticals, Inc. has a 12-month low of $3.35 and a 12-month high of $16.50. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -27.92 and a beta of 0.91.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $0.50 million during the quarter, compared to analysts' expectations of $2.00 million. On average, equities analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Analyst Upgrades and Downgrades

SPRY has been the subject of a number of research reports. Raymond James upgraded ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Leerink Partners upped their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday. Finally, William Blair raised ARS Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ARS Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $24.00.

Insider Buying and Selling

In related news, CEO Richard E. Lowenthal sold 100,000 shares of the firm's stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.40, for a total value of $1,140,000.00. Following the transaction, the chief executive officer now directly owns 1,547,447 shares of the company's stock, valued at approximately $17,640,895.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $200,000.00. Following the sale, the chief financial officer now directly owns 13,199 shares of the company's stock, valued at $211,184. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard E. Lowenthal sold 100,000 shares of the firm's stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $11.40, for a total value of $1,140,000.00. Following the sale, the chief executive officer now directly owns 1,547,447 shares in the company, valued at approximately $17,640,895.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,043,395 shares of company stock valued at $14,071,032. 40.10% of the stock is owned by company insiders.

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.