Nextech Invest Ltd. Decreases Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Nextech Invest Ltd. reduced its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 936,729 shares of the company's stock after selling 176,300 shares during the period. ARS Pharmaceuticals comprises about 2.3% of Nextech Invest Ltd.'s investment portfolio, making the stock its 12th biggest position. Nextech Invest Ltd. owned 0.95% of ARS Pharmaceuticals worth $9,882,000 at the end of the most recent quarter.

ARS Pharmaceuticals Trading Up 0.9%

ARS Pharmaceuticals stock traded up $0.12 during trading hours on Monday, reaching $13.72. 266,710 shares of the stock were exchanged, compared to its average volume of 1,229,167. The stock has a 50 day moving average of $13.34 and a two-hundred day moving average of $12.86. ARS Pharmaceuticals, Inc. has a twelve month low of $7.55 and a twelve month high of $18.51. The company has a market cap of $1.35 billion, a P/E ratio of -26.86 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. On average, analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPRY has been the subject of a number of research analyst reports. William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an "outperform" rating and a $40.00 target price for the company. Finally, Scotiabank assumed coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $31.00.

Insider Activity

In other news, insider Eric Karas sold 10,000 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the sale, the insider now directly owns 7,696 shares in the company, valued at $107,744. This represents a 56.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Laura Shawver sold 50,002 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $12.30, for a total value of $615,024.60. Following the sale, the director now owns 210,346 shares in the company, valued at approximately $2,587,255.80. This represents a 19.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,602 shares of company stock worth $1,311,041 in the last quarter. 33.50% of the stock is owned by corporate insiders.

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.