Rafferty Asset Management LLC Increases Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Rafferty Asset Management LLC lifted its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 72.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,372 shares of the company’s stock after purchasing an additional 59,097 shares during the period. Rafferty Asset Management LLC owned about 0.14% of ARS Pharmaceuticals worth $1,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SPRY. Wellington Management Group LLP boosted its holdings in ARS Pharmaceuticals by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock worth $1,722,000 after buying an additional 917 shares during the last quarter. Rhumbline Advisers boosted its holdings in ARS Pharmaceuticals by 2.9% in the 4th quarter. Rhumbline Advisers now owns 65,163 shares of the company’s stock worth $687,000 after buying an additional 1,824 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in ARS Pharmaceuticals by 10.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $217,000 after buying an additional 1,962 shares during the last quarter. Mariner LLC boosted its holdings in ARS Pharmaceuticals by 5.8% in the 4th quarter. Mariner LLC now owns 35,908 shares of the company’s stock worth $379,000 after buying an additional 1,972 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in ARS Pharmaceuticals by 11.4% in the 4th quarter. LPL Financial LLC now owns 21,408 shares of the company’s stock worth $226,000 after buying an additional 2,190 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Insider Transactions at ARS Pharmaceuticals

In other news, Director Laura Shawver sold 49,600 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 210,346 shares in the company, valued at $2,357,978.66. The trade was a 19.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now owns 7,696 shares in the company, valued at $107,744. This represents a 56.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,602 shares of company stock worth $1,311,041 in the last ninety days. Insiders own 33.50% of the company’s stock.

Analyst Upgrades and Downgrades

SPRY has been the topic of several research analyst reports. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Oppenheimer initiated coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Scotiabank initiated coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.00.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock opened at $14.33 on Wednesday. The stock has a market cap of $1.41 billion, a P/E ratio of -28.10 and a beta of 0.84. The stock’s 50 day simple moving average is $13.43 and its 200-day simple moving average is $12.87. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $7.97 million for the quarter, compared to analyst estimates of $7.48 million. As a group, research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal 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.