Matisse Capital Acquires New Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Matisse Capital purchased a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 1st quarter, according to the company in its most recent 13F 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 about 0.06% of ARS Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

SPRY has been the topic of several analyst reports. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $31.00.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, CFO Kathleen D. Scott sold 50,000 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 $705,000.00. Following the transaction, the chief financial officer owned 7,424 shares of the company's stock, valued at approximately $104,678.40. This represents a 87.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brent L. Saunders sold 120,000 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $14.25, for a total transaction of $1,710,000.00. The disclosure for this sale can be found here. Insiders sold a total of 337,971 shares of company stock worth $4,721,888 over the last quarter. Insiders own 33.50% of the company's stock.

ARS Pharmaceuticals Trading Down 7.8%

ARS Pharmaceuticals stock traded down $1.36 during trading hours on Tuesday, hitting $16.09. The company had a trading volume of 1,844,681 shares, compared to its average volume of 1,333,895. 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 firm has a market cap of $1.58 billion, a P/E ratio of -100.56 and a beta of 0.84. The company has a 50-day moving average price of $14.69 and a two-hundred day moving average price of $13.07. ARS Pharmaceuticals, Inc. has a 1 year low of $8.35 and a 1 year high of $18.90.

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 for the quarter, meeting the consensus estimate of ($0.35). ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. The firm had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.48 million. On average, sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

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.