Deerfield Management Company L.P. Series C Cuts Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Deerfield Management Company L.P. Series C trimmed its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 5.1% in the 4th quarter, according to the company in 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 comprises about 2.1% of Deerfield Management Company L.P. Series C's investment portfolio, making the stock its 12th biggest holding. Deerfield Management Company L.P. Series C owned about 10.82% of ARS Pharmaceuticals worth $110,930,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of ARS Pharmaceuticals by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock valued at $1,722,000 after purchasing an additional 917 shares during the last quarter. Rhumbline Advisers boosted its holdings in ARS Pharmaceuticals by 2.9% in the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company's stock worth $687,000 after acquiring an additional 1,824 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of ARS Pharmaceuticals by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company's stock worth $217,000 after acquiring an additional 1,962 shares during the last quarter. Mariner LLC increased its holdings in shares of ARS Pharmaceuticals by 5.8% during the fourth quarter. Mariner LLC now owns 35,908 shares of the company's stock valued at $379,000 after acquiring an additional 1,972 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of 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 purchasing an additional 2,190 shares during the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Price Performance

Shares of SPRY traded down $0.05 during trading hours on Friday, hitting $13.44. The stock had a trading volume of 1,086,497 shares, compared to its average volume of 1,195,725. The firm has a market capitalization of $1.32 billion, a PE ratio of -26.35 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a 12 month low of $7.55 and a 12 month high of $18.51. The stock has a fifty day moving average price of $13.15 and a 200 day moving average price of $12.95.

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

Insiders Place Their Bets

In other news, Director Laura Shawver sold 50,002 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $12.30, for a total value of $615,024.60. Following the transaction, the director now owns 210,346 shares of the company's stock, valued at $2,587,255.80. This trade represents a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 7,696 shares in the company, valued at approximately $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,602 shares of company stock worth $1,311,041. Company insiders own 40.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SPRY shares. Scotiabank initiated coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 target price for the company. Leerink Partners increased their target price on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Monday, January 13th. Oppenheimer started 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. William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Raymond James boosted their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 14th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $31.00.

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.