Aberdeen Group plc Purchases 459,027 Shares of ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Aberdeen Group plc increased its stake in ARS Pharmaceuticals (NASDAQ:SPRY) by 14.8% in Q4, buying 459,027 shares to hold 3,556,049 shares (~3.60%) valued at $41.43 million.
• Multiple other institutions also built positions—most notably Rubric Capital added 3.205 million shares to reach 4.5 million—bringing total institutional ownership to 68.16%.
• ARS reported Q EPS of ($0.42) (in line with estimates) and revenue of $28.09M (beat expectations) but still shows negative margins and ROE; the stock trades around $8.30 with a market cap of $824M while analysts hold a consensus Hold and an average price target of $29.33.

Aberdeen Group plc raised its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,556,049 shares of the company's stock after acquiring an additional 459,027 shares during the quarter. Aberdeen Group plc owned approximately 3.60% of ARS Pharmaceuticals worth $41,428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPRY. Rubric Capital Management LP grew its stake in shares of ARS Pharmaceuticals by 247.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company's stock worth $45,225,000 after purchasing an additional 3,205,122 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of ARS Pharmaceuticals during the second quarter valued at approximately $30,154,000. Casdin Capital LLC bought a new position in shares of ARS Pharmaceuticals during the third quarter valued at approximately $16,080,000. Bamco Inc. NY raised its holdings in shares of ARS Pharmaceuticals by 3,071.3% during the third quarter. Bamco Inc. NY now owns 1,268,532 shares of the company's stock valued at $12,749,000 after acquiring an additional 1,228,532 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in ARS Pharmaceuticals in the third quarter worth $10,400,000. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Price Performance

SPRY opened at $8.30 on Friday. The company has a current ratio of 7.28, a quick ratio of 7.06 and a debt-to-equity ratio of 1.47. The company has a market cap of $824.19 million, a price-to-earnings ratio of -4.74 and a beta of 0.86. The stock has a fifty day simple moving average of $9.03 and a two-hundred day simple moving average of $9.66. ARS Pharmaceuticals, Inc. has a 12-month low of $6.66 and a 12-month high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its earnings results on Monday, March 9th. The company reported ($0.42) EPS for the quarter, meeting analysts' consensus estimates of ($0.42). ARS Pharmaceuticals had a negative net margin of 203.25% and a negative return on equity of 100.29%. The firm had revenue of $28.09 million for the quarter, compared to analysts' expectations of $25.58 million. Research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SPRY. Zacks Research raised ARS Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of ARS Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Leerink Partners set a $26.00 price objective on shares of ARS Pharmaceuticals and gave the stock an "outperform" rating in a report on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ARS Pharmaceuticals has a consensus rating of "Hold" and an average price target of $29.33.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.

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