Vanguard Group Inc. Grows Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Vanguard Group Inc. boosted its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,464,952 shares of the company's stock after acquiring an additional 115,656 shares during the period. Vanguard Group Inc. owned 3.57% of ARS Pharmaceuticals worth $36,555,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SPRY. LPL Financial LLC raised its position in ARS Pharmaceuticals by 11.4% during the 4th quarter. LPL Financial LLC now owns 21,408 shares of the company's stock valued at $226,000 after purchasing an additional 2,190 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in ARS Pharmaceuticals in the fourth quarter worth $73,000. Sei Investments Co. bought a new stake in ARS Pharmaceuticals in the fourth quarter valued at $1,142,000. Teacher Retirement System of Texas purchased a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth about $122,000. Finally, Intech Investment Management LLC lifted its position in shares of ARS Pharmaceuticals by 85.2% in the 4th quarter. Intech Investment Management LLC now owns 30,545 shares of the company's stock worth $322,000 after purchasing an additional 14,051 shares during the period. Hedge funds and other institutional investors own 68.16% of the company's stock.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 7,696 shares of the company's stock, valued at approximately $107,744. This represents a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura Shawver sold 49,600 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $11.21, for a total value of $556,016.00. Following the sale, the director now owns 210,346 shares of the company's stock, valued at approximately $2,357,978.66. This represents a 19.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,602 shares of company stock worth $1,926,541 over the last quarter. Company insiders own 40.10% of the company's stock.

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Wall Street Analysts Forecast Growth

SPRY has been the subject of a number of research reports. Raymond James increased their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, January 14th. Leerink Partners lifted 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. Scotiabank began coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price for the company. Oppenheimer assumed coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target on the stock. Finally, William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ARS Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Trading Up 3.6 %

SPRY stock traded up $0.52 during midday trading on Tuesday, hitting $14.99. The company's stock had a trading volume of 1,258,179 shares, compared to its average volume of 1,142,474. The company has a market cap of $1.47 billion, a PE ratio of -29.39 and a beta of 0.86. The firm's 50-day moving average is $12.08 and its 200-day moving average is $13.04. ARS Pharmaceuticals, Inc. has a 12 month low of $7.55 and a 12 month high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to analysts' expectations of $15.46 million. Analysts expect 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.