Foster & Motley Inc. Purchases Shares of 14,780 ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Key Points

• Foster & Motley Inc. has acquired 14,780 shares of ARS Pharmaceuticals, valued at approximately $186,000, according to a recent SEC filing.
• Significant institutional investment changes include Alliancebernstein L.P. increasing its stake by over 5,168.4%, now owning nearly 3.9 million shares, while Vanguard Group Inc. and Alyeska Investment Group L.P. also boosted their holdings substantially.
• ARS Pharmaceuticals' stock saw a recent performance dip, with a last reported price of $17.18, and analysts project a future EPS of -0.55 for the current fiscal year.

Foster & Motley Inc. acquired a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 14,780 shares of the company's stock, valued at approximately $186,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. XTX Topco Ltd increased its position in shares of ARS Pharmaceuticals by 54.1% during the first quarter. XTX Topco Ltd now owns 49,647 shares of the company's stock worth $625,000 after acquiring an additional 17,429 shares during the last quarter. Schulhoff & Co. Inc. acquired a new stake in ARS Pharmaceuticals during the 1st quarter valued at approximately $509,000. Knights of Columbus Asset Advisors LLC purchased a new stake in ARS Pharmaceuticals during the 1st quarter worth approximately $543,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at approximately $37,000. Finally, Legato Capital Management LLC boosted its stake in shares of ARS Pharmaceuticals by 350.1% during the 1st quarter. Legato Capital Management LLC now owns 96,591 shares of the company's stock valued at $1,215,000 after buying an additional 75,130 shares during the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Down 2.8%

ARS Pharmaceuticals stock traded down $0.50 during midday trading on Friday, hitting $17.18. The stock had a trading volume of 1,181,354 shares, compared to its average volume of 1,272,679. The business has a fifty day moving average price of $16.43 and a 200 day moving average price of $14.13. ARS Pharmaceuticals, Inc. has a 12 month low of $8.91 and a 12 month high of $18.90. The stock has a market cap of $1.69 billion, a P/E ratio of -107.37 and a beta of 0.90. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). ARS Pharmaceuticals had a negative return on equity of 6.94% and a negative net margin of 16.11%. The company had revenue of $7.97 million during the quarter, compared to analyst estimates of $7.48 million. Research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 50,000 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $705,000.00. Following the completion of the sale, the chief financial officer owned 7,424 shares in the company, valued at $104,678.40. The trade was a 87.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the completion of the transaction, the insider owned 89,613 shares in the company, valued at approximately $1,263,543.30. The trade was a 53.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,043,118 shares of company stock valued at $18,024,863 over the last quarter. Insiders own 33.50% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $31.00.

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.