55,714 Shares in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Acquired by Matisse Capital

Matisse Capital purchased 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 Securities and Exchange Commission (SEC). The fund purchased 55,714 shares of the company's stock, valued at approximately $701,000. Matisse Capital owned approximately 0.06% of ARS Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bernard Wealth Management Corp. purchased a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth $27,000. KLP Kapitalforvaltning AS acquired a new position in ARS Pharmaceuticals in the 4th quarter worth about $73,000. BNP Paribas Financial Markets acquired a new position in ARS Pharmaceuticals in the 4th quarter worth about $75,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of ARS Pharmaceuticals during the 4th quarter worth about $105,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of ARS Pharmaceuticals during the 4th quarter valued at about $122,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Up 0.7%

Shares of NASDAQ:SPRY traded up $0.12 on Friday, reaching $18.20. The company had a trading volume of 3,883,996 shares, compared to its average volume of 1,324,436. ARS Pharmaceuticals, Inc. has a twelve month low of $8.35 and a twelve month high of $18.90. The stock has a 50-day moving average price of $14.63 and a 200 day moving average price of $13.03. The stock has a market capitalization of $1.79 billion, a P/E ratio of -113.74 and a beta of 0.84. The company has a quick ratio of 10.74, a current ratio of 11.00 and a debt-to-equity ratio of 0.30.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $7.48 million. On average, equities analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Scotiabank began coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 target price for the company. Finally, Wall Street Zen upgraded shares of ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $31.00.

Insider Buying and Selling

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,002 shares of the company'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 completion of the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Karas sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $16.00, for a total value of $240,000.00. Following the completion of the transaction, the insider now directly owns 7,696 shares of the company's stock, valued at approximately $123,136. This trade represents a 66.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 337,971 shares of company stock valued at $4,721,888. 33.50% of the stock is owned by company insiders.

ARS Pharmaceuticals 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.