ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Shares Sold by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C reduced its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,514,657 shares of the company's stock after selling 563,270 shares during the quarter. ARS Pharmaceuticals accounts for 2.1% of Deerfield Management Company L.P. Series C's holdings, making the stock its 12th biggest position. Deerfield Management Company L.P. Series C owned about 10.82% of ARS Pharmaceuticals worth $110,930,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alliancebernstein L.P. raised its stake in shares of ARS Pharmaceuticals by 5,168.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock worth $40,942,000 after purchasing an additional 3,807,074 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock worth $36,555,000 after purchasing an additional 115,656 shares during the last quarter. Alyeska Investment Group L.P. raised its position in ARS Pharmaceuticals by 903.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after purchasing an additional 1,128,724 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ARS Pharmaceuticals by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock worth $13,066,000 after purchasing an additional 3,351 shares in the last quarter. Finally, Royce & Associates LP increased its position in ARS Pharmaceuticals by 34.4% in the fourth quarter. Royce & Associates LP now owns 929,613 shares of the company's stock worth $9,807,000 after purchasing an additional 238,158 shares during the period. 68.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SPRY has been the subject of several recent analyst reports. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Leerink Partners raised their target price on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a report on Monday, January 13th. Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target on the stock. Oppenheimer initiated coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target for the company. Finally, Raymond James boosted their target price on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $31.00.

Insider Buying and Selling

In related news, Director Laura Shawver sold 50,002 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $12.30, for a total value of $615,024.60. Following the completion of the transaction, the director now directly owns 210,346 shares in the company, valued at $2,587,255.80. The trade was a 19.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Karas sold 10,000 shares of the firm'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 approximately $107,744. This trade represents a 56.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 109,602 shares of company stock worth $1,311,041. Corporate insiders own 40.10% of the company's stock.

ARS Pharmaceuticals Trading Up 0.5%

Shares of SPRY stock traded up $0.07 during trading hours on Tuesday, reaching $13.36. The company's stock had a trading volume of 817,696 shares, compared to its average volume of 1,197,574. ARS Pharmaceuticals, Inc. has a one year low of $7.55 and a one year high of $18.51. The firm's fifty day simple moving average is $13.20 and its 200 day simple moving average is $12.92. The stock has a market capitalization of $1.31 billion, a P/E ratio of -26.20 and a beta of 0.84.

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

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.