Allspring Global Investments Holdings LLC Invests $2.58 Million in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Allspring Global Investments Holdings LLC acquired a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 178,221 shares of the company's stock, valued at approximately $2,584,000. Allspring Global Investments Holdings LLC owned about 0.18% of ARS Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SPRY. J.W. Cole Advisors Inc. purchased a new stake in ARS Pharmaceuticals during the first quarter worth about $142,000. Capstone Investment Advisors LLC acquired a new position in ARS Pharmaceuticals in the 1st quarter valued at about $739,000. GSA Capital Partners LLP lifted its stake in shares of ARS Pharmaceuticals by 11.7% during the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company's stock valued at $1,317,000 after buying an additional 13,545 shares during the period. SG Americas Securities LLC purchased a new position in shares of ARS Pharmaceuticals during the 1st quarter worth $119,000. Finally, ClariVest Asset Management LLC purchased a new position in ARS Pharmaceuticals during the first quarter worth about $2,790,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock traded down $0.90 during midday trading on Wednesday, hitting $14.27. 895,789 shares of the company were exchanged, compared to its average volume of 767,948. The company has a market cap of $1.38 billion, a PE ratio of -30.36 and a beta of 0.91. ARS Pharmaceuticals, Inc. has a fifty-two week low of $3.38 and a fifty-two week high of $17.08. The company's fifty day moving average price is $13.95 and its 200-day moving average price is $11.13.

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 for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. On average, analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.00, for a total transaction of $750,000.00. Following the completion of the sale, the chief operating officer now owns 6,024 shares in the company, valued at $90,360. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sarina Tanimoto sold 100,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total value of $1,488,000.00. Following the completion of the sale, the insider now directly owns 1,298,499 shares of the company's stock, valued at $19,321,665.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Dorsey sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the transaction, the chief operating officer now directly owns 6,024 shares in the company, valued at approximately $90,360. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,055,895 shares of company stock valued at $14,619,032. 40.10% of the stock is currently owned by 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.