Royce & Associates LP Boosts Stock Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Royce & Associates LP boosted its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 929,613 shares of the company's stock after acquiring an additional 238,158 shares during the quarter. Royce & Associates LP owned 0.96% of ARS Pharmaceuticals worth $9,807,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. State Street Corp increased its stake in shares of ARS Pharmaceuticals by 10.4% during the third quarter. State Street Corp now owns 2,049,542 shares of the company's stock valued at $29,718,000 after buying an additional 193,321 shares during the period. Geode Capital Management LLC grew its holdings in ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company's stock worth $17,909,000 after acquiring an additional 38,927 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in ARS Pharmaceuticals by 78.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company's stock valued at $9,469,000 after purchasing an additional 288,021 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $6,576,000. Finally, First Turn Management LLC purchased a new stake in shares of ARS Pharmaceuticals in the 3rd quarter worth approximately $8,603,000. Institutional investors own 68.16% of the company's stock.

Insider Buying and Selling

In other news, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 7,696 shares in the company, valued at $107,744. This trade represents a 56.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura Shawver sold 49,600 shares of the business's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total transaction of $556,016.00. Following the completion of the sale, the director now directly owns 210,346 shares of the company's stock, valued at approximately $2,357,978.66. The trade was a 19.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 159,600 shares of company stock valued at $1,866,516. Corporate insiders own 40.10% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Scotiabank began coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price objective for the company. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Raymond James upped their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 14th. Oppenheimer initiated coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 target price on the stock. Finally, Leerink Partners increased their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $31.00.

ARS Pharmaceuticals Trading Down 13.6 %

Shares of SPRY stock traded down $1.95 during mid-day trading on Friday, reaching $12.36. The stock had a trading volume of 4,452,514 shares, compared to its average volume of 1,050,426. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -24.24 and a beta of 1.03. The business's fifty day moving average is $12.06 and its 200-day moving average is $13.04.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.56. The business had revenue of $86.58 million for the quarter, compared to analyst estimates of $15.46 million. On average, analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

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.