Aberdeen Group plc Increases Position in ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Aberdeen Group plc has increased its stake in ARS Pharmaceuticals by 49.9%, now owning approximately 1.53% of the company's shares, valued at around $26.2 million.
• Despite this investment interest, ARS Pharmaceuticals has faced mixed analyst sentiment, with ratings ranging from a Strong Buy to a Sell, and a current consensus rating of "Moderate Buy".
• The company's stock price has recently dropped by 3.4%, with a current trading price at around $10.93, significantly lower than its 52-week high of $18.90.

Aberdeen Group plc raised its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 49.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,502,575 shares of the company's stock after purchasing an additional 499,916 shares during the quarter. Aberdeen Group plc owned about 1.53% of ARS Pharmaceuticals worth $26,220,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. MPM Bioimpact LLC acquired a new stake in ARS Pharmaceuticals during the 1st quarter worth approximately $16,519,000. Cormorant Asset Management LP boosted its stake in ARS Pharmaceuticals by 220.0% during the 1st quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company's stock worth $20,128,000 after purchasing an additional 1,100,000 shares during the period. Levin Capital Strategies L.P. boosted its stake in ARS Pharmaceuticals by 149.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 1,164,601 shares of the company's stock worth $14,651,000 after purchasing an additional 696,974 shares during the period. Octagon Capital Advisors LP acquired a new stake in ARS Pharmaceuticals during the 1st quarter worth $7,862,000. Finally, Janney Montgomery Scott LLC boosted its stake in ARS Pharmaceuticals by 1,552.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 448,669 shares of the company's stock worth $5,644,000 after purchasing an additional 421,511 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on SPRY shares. Wall Street Zen cut shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Raymond James Financial set a $32.00 target price on shares of ARS Pharmaceuticals in a research note on Friday, September 26th. Roth Capital started coverage on shares of ARS Pharmaceuticals in a research note on Thursday, September 4th. They issued a "buy" rating and a $40.00 target price for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, ARS Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.80.

ARS Pharmaceuticals Stock Down 3.4%

Shares of NASDAQ SPRY opened at $10.93 on Tuesday. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -22.31 and a beta of 0.84. The firm has a 50-day moving average price of $12.09 and a 200 day moving average price of $14.14. ARS Pharmaceuticals, Inc. has a 52 week low of $9.34 and a 52 week high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.05). The business had revenue of $15.72 million for the quarter, compared to analyst estimates of $12.92 million. ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%. Equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kathleen D. Scott sold 12,500 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $15.00, for a total value of $187,500.00. Following the completion of the transaction, the chief financial officer directly owned 10,042 shares in the company, valued at approximately $150,630. This represents a 55.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard E. Lowenthal sold 50,000 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $14.49, for a total transaction of $724,500.00. Following the completion of the transaction, the chief executive officer owned 1,196,494 shares of the company's stock, valued at $17,337,198.06. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,500 shares of company stock worth $1,615,759 over the last ninety days. 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.

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