Wexford Capital LP Makes New $3.60 Million Investment in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Wexford Capital LP acquired a new stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 248,347 shares of the company's stock, valued at approximately $3,601,000. Wexford Capital LP owned 0.26% of ARS Pharmaceuticals as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. State Street Corp increased its holdings in shares of ARS Pharmaceuticals by 10.4% in the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company's stock valued at $29,718,000 after acquiring an additional 193,321 shares during the period. Stifel Financial Corp purchased a new position in ARS Pharmaceuticals in the third quarter valued at about $199,000. Quarry LP bought a new position in ARS Pharmaceuticals in the third quarter worth about $174,000. Miura Global Management LLC bought a new position in ARS Pharmaceuticals in the third quarter worth about $3,915,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of ARS Pharmaceuticals by 78.9% during 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 last quarter. Institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Price Performance

SPRY traded up $0.02 on Friday, reaching $14.02. 727,227 shares of the stock were exchanged, compared to its average volume of 1,266,213. The company's 50-day moving average price is $14.79 and its 200 day moving average price is $12.21. The firm has a market capitalization of $1.36 billion, a PE ratio of -27.49 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $18.51.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. William Blair upgraded shares of ARS Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Leerink Partners increased their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Raymond James upgraded ARS Pharmaceuticals from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. 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.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $24.00.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Justin Chakma sold 50,000 shares of ARS Pharmaceuticals stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $14.23, for a total transaction of $711,500.00. Following the completion of the transaction, the insider now owns 136,380 shares in the company, valued at approximately $1,940,687.40. This trade represents a 26.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura Shawver sold 14,772 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $13.75, for a total value of $203,115.00. Following the completion of the sale, the director now owns 210,346 shares in the company, valued at $2,892,257.50. The trade was a 6.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,115,786 shares of company stock valued at $17,683,286. 40.10% of the stock is owned by insiders.

ARS Pharmaceuticals 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.