Advisor Resource Council Takes Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Advisor Resource Council acquired a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SPRY. Wellington Management Group LLP increased its position in ARS Pharmaceuticals by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock valued at $1,722,000 after acquiring an additional 917 shares during the period. Rhumbline Advisers increased its position in ARS Pharmaceuticals by 2.9% in the 4th quarter. Rhumbline Advisers now owns 65,163 shares of the company's stock valued at $687,000 after acquiring an additional 1,824 shares during the period. Mariner LLC increased its position in ARS Pharmaceuticals by 5.8% in the 4th quarter. Mariner LLC now owns 35,908 shares of the company's stock valued at $379,000 after acquiring an additional 1,972 shares during the period. LPL Financial LLC lifted its holdings in ARS Pharmaceuticals by 11.4% in the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company's stock worth $226,000 after purchasing an additional 2,190 shares during the period. Finally, Bernard Wealth Management Corp. bought a new position in ARS Pharmaceuticals in the 4th quarter valued at about $27,000. 68.16% of the stock is owned by institutional investors.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the transaction, the insider now directly owns 89,613 shares in the company, valued at approximately $1,263,543.30. The trade was a 53.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $16.00, for a total transaction of $240,000.00. Following the transaction, the insider now owns 7,696 shares in the company, valued at approximately $123,136. The trade was a 66.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 337,971 shares of company stock valued at $4,721,888. Corporate insiders own 33.50% of the company's stock.

ARS Pharmaceuticals Price Performance

Shares of SPRY traded up $0.77 during midday trading on Monday, reaching $16.57. The stock had a trading volume of 1,407,683 shares, compared to its average volume of 1,310,483. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 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's 50 day moving average price is $14.42 and its 200-day moving average price is $12.90. The company has a market capitalization of $1.63 billion, a P/E ratio of -103.56 and a beta of 0.84.

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

Wall Street Analyst Weigh In

A number of research firms have commented on SPRY. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Scotiabank began 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. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.