State Street Corp Acquires 193,321 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

State Street Corp grew its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,049,542 shares of the company's stock after acquiring an additional 193,321 shares during the quarter. State Street Corp owned 2.11% of ARS Pharmaceuticals worth $29,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stifel Financial Corp acquired a new stake in ARS Pharmaceuticals in the 3rd quarter worth about $199,000. Quarry LP acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $174,000. Miura Global Management LLC bought a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $3,915,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of ARS Pharmaceuticals by 78.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company's stock valued at $9,469,000 after buying an additional 288,021 shares during the period. Finally, HighTower Advisors LLC increased its stake in ARS Pharmaceuticals by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 28,310 shares of the company's stock worth $411,000 after acquiring an additional 4,369 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $11.67, for a total transaction of $1,167,000.00. Following the completion of the transaction, the insider now directly owns 1,098,499 shares in the company, valued at approximately $12,819,483.33. This represents a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a 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 stock in a transaction on Monday, November 11th. The shares were sold at an average price of $18.04, for a total value of $9,533,346.24. Following the completion of the transaction, the insider now owns 5,274,735 shares of the company's stock, valued at $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,258,058 shares of company stock valued at $19,369,686. 40.10% of the stock is currently owned by insiders.

ARS Pharmaceuticals Price Performance

NASDAQ:SPRY traded down $0.14 during trading hours on Friday, hitting $11.18. The company's stock had a trading volume of 2,578,119 shares, compared to its average volume of 839,771. ARS Pharmaceuticals, Inc. has a twelve month low of $5.02 and a twelve month high of $18.51. The stock has a fifty day simple moving average of $14.37 and a 200-day simple moving average of $12.45. The company has a market capitalization of $1.09 billion, a P/E ratio of -21.92 and a beta of 0.88.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPRY. Leerink Partners upped their target price 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 reiterated an "overweight" rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Finally, William Blair upgraded shares of 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $24.00.

ARS Pharmaceuticals Company 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.