ExodusPoint Capital Management LP Buys New Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

ExodusPoint Capital Management LP acquired a new stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,628 shares of the company's stock, valued at approximately $260,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS purchased a new stake in ARS Pharmaceuticals during the 4th quarter valued at $73,000. Compass Capital Corp MA ADV purchased a new stake in ARS Pharmaceuticals during the fourth quarter valued at $106,000. Teacher Retirement System of Texas purchased a new stake in ARS Pharmaceuticals during the fourth quarter valued at $122,000. Amica Mutual Insurance Co. bought a new position in ARS Pharmaceuticals in the fourth quarter valued at about $151,000. Finally, SBI Securities Co. Ltd. purchased a new position in ARS Pharmaceuticals in the fourth quarter worth about $175,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY remained flat at $14.88 during midday trading on Friday. 1,550,196 shares of the stock were exchanged, compared to its average volume of 1,153,076. ARS Pharmaceuticals, Inc. has a 1 year low of $7.55 and a 1 year high of $18.51. The business's 50-day simple moving average is $12.27 and its 200-day simple moving average is $13.06. The company has a market cap of $1.46 billion, a P/E ratio of -29.18 and a beta of 0.86.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to analysts' expectations of $15.46 million. Sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the business's stock in a transaction 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 sale, the insider now owns 7,696 shares in the company, valued at $107,744. The trade was a 56.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura Shawver sold 50,002 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $12.30, for a total transaction of $615,024.60. Following the transaction, the director now directly owns 210,346 shares of the company's stock, valued at $2,587,255.80. This trade represents a 19.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,602 shares of company stock worth $1,926,541 in the last three months. 40.10% of the stock is owned by company 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.