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

Other large investors also recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in ARS Pharmaceuticals by 5,168.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock valued at $40,942,000 after purchasing an additional 3,807,074 shares during the period. Vanguard Group Inc. boosted its stake in ARS Pharmaceuticals by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock valued at $36,555,000 after acquiring an additional 115,656 shares during the period. Alyeska Investment Group L.P. boosted its stake in ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after acquiring an additional 1,128,724 shares during the period. Geode Capital Management LLC boosted its stake in ARS Pharmaceuticals by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock valued at $13,066,000 after acquiring an additional 3,351 shares during the period. Finally, Woodline Partners LP raised its holdings in shares of ARS Pharmaceuticals by 13.5% during the fourth quarter. Woodline Partners LP now owns 1,119,283 shares of the company's stock valued at $11,808,000 after buying an additional 133,276 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company's stock.

Insiders Place Their Bets

In related news, insider Eric Karas sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $16.99, for a total value of $254,850.00. Following the transaction, the insider directly owned 10,315 shares in the company, valued at $175,251.85. This represents a 59.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of the stock in a transaction on 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 sale, the insider owned 89,613 shares in the company, valued at approximately $1,263,543.30. This trade represents a 53.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,043,118 shares of company stock valued at $18,024,863 over the last three months. 33.50% of the stock is owned by insiders.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock traded up $0.17 during trading hours on Wednesday, hitting $17.97. 685,718 shares of the stock were exchanged, compared to its average volume of 1,503,776. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.74 and a current ratio of 11.00. The stock has a market capitalization of $1.76 billion, a P/E ratio of -111.90 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 12 month low of $9.45 and a 12 month high of $18.90. The business's 50-day moving average is $16.55 and its two-hundred day moving average is $14.19.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate 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.