249,230 Shares in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Acquired by Advisor Resource Council

Advisor Resource Council acquired a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 249,230 shares of the company's stock, valued at approximately $3,135,000. Advisor Resource Council owned approximately 0.25% of ARS Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new stake in shares of ARS Pharmaceuticals during the 4th quarter worth approximately $27,000. GAMMA Investing LLC raised its position in ARS Pharmaceuticals by 4,319.7% during the first quarter. GAMMA Investing LLC now owns 3,359 shares of the company's stock valued at $420,000 after purchasing an additional 3,283 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in ARS Pharmaceuticals during the fourth quarter worth $73,000. BNP Paribas Financial Markets acquired a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at $75,000. Finally, Compass Capital Corp MA ADV bought a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at $106,000. 68.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Scotiabank assumed coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price objective on the stock. Wall Street Zen cut shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.00.

Insider Activity at ARS Pharmaceuticals

In related news, insider Alexander A. Fitzpatrick sold 102,969 shares of the company'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 sale, the insider now owns 89,613 shares in the company, valued at $1,263,543.30. This represents a 53.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura Shawver sold 50,002 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $12.30, for a total value of $615,024.60. Following the sale, the director now directly owns 210,346 shares of the company's stock, valued at $2,587,255.80. This represents a 19.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 322,971 shares of company stock worth $4,481,888 over the last ninety days. Insiders own 33.50% of the company's stock.

ARS Pharmaceuticals Trading Up 7.4%

SPRY opened at $15.91 on Friday. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.00 and a quick ratio of 10.74. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -99.43 and a beta of 0.84. The company's 50 day moving average price is $14.34 and its two-hundred day moving average price is $12.88.

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

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.

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