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

Key Points

• Aberdeen Group plc has acquired a new stake in ARS Pharmaceuticals, purchasing 1,002,659 shares valued at approximately $12.61 million, representing about 1.02% of the company.
• ARS Pharmaceuticals' stock hit a 52-week high of $18.90 and is currently priced at around $14.03, while the company reported a negative earnings per share of ($0.46).
• The stock has mixed analyst ratings, with one sell rating, five buy ratings, and an average target price of $31.00, indicating potential for growth despite recent downgrades.

Aberdeen Group plc bought a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,002,659 shares of the company's stock, valued at approximately $12,613,000. Aberdeen Group plc owned 1.02% of ARS Pharmaceuticals as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in ARS Pharmaceuticals in the 4th quarter worth about $27,000. ANTIPODES PARTNERS Ltd bought a new position in ARS Pharmaceuticals in the 1st quarter worth about $37,000. GAMMA Investing LLC boosted its stake in ARS Pharmaceuticals by 4,319.7% in the 1st quarter. GAMMA Investing LLC now owns 3,359 shares of the company's stock worth $420,000 after purchasing an additional 3,283 shares during the period. PNC Financial Services Group Inc. boosted its stake in ARS Pharmaceuticals by 78,100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock worth $49,000 after purchasing an additional 3,905 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in ARS Pharmaceuticals in the 4th quarter worth about $75,000. Institutional investors own 68.16% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, ARS Pharmaceuticals has a consensus rating of "Buy" and an average price target of $31.00.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY traded down $1.37 on Friday, hitting $13.50. The company's stock had a trading volume of 3,133,139 shares, compared to its average volume of 1,823,018. The company has a 50-day simple moving average of $16.80 and a 200 day simple moving average of $14.37. ARS Pharmaceuticals, Inc. has a 1 year low of $10.00 and a 1 year high of $18.90. The company has a market capitalization of $1.33 billion, a PE ratio of -27.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98.

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

Insider Transactions at ARS Pharmaceuticals

In related news, insider Sarina Tanimoto sold 37,656 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total transaction of $530,573.04. Following the transaction, the insider directly owned 1,247,447 shares of the company's stock, valued at approximately $17,576,528.23. This trade represents a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder James E. Flynn sold 740,149 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $18.46, for a total value of $13,663,150.54. Following the transaction, the insider directly owned 4,887,254 shares in the company, valued at approximately $90,218,708.84. This represents a 13.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 882,649 shares of company stock worth $15,773,760. 33.50% of the stock is owned by insiders.

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.