Aberdeen Group plc Makes New $12.61 Million Investment 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 stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,002,659 shares of the company's stock, valued at approximately $12,613,000. Aberdeen Group plc owned about 1.02% of ARS Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in ARS Pharmaceuticals by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,488,293 shares of the company's stock valued at $43,883,000 after purchasing an additional 23,341 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after buying an additional 1,128,724 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ARS Pharmaceuticals by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock worth $13,066,000 after buying an additional 3,351 shares in the last quarter. Levin Capital Strategies L.P. raised its holdings in ARS Pharmaceuticals by 149.0% in the 1st quarter. Levin Capital Strategies L.P. now owns 1,164,601 shares of the company's stock valued at $14,651,000 after acquiring an additional 696,974 shares during the last quarter. Finally, Woodline Partners LP lifted its position in ARS Pharmaceuticals by 13.5% during the fourth quarter. Woodline Partners LP now owns 1,119,283 shares of the company's stock worth $11,808,000 after buying an additional 133,276 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company's stock.

Insiders Place Their Bets

In other news, CEO Richard E. Lowenthal sold 50,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $14.49, for a total value of $724,500.00. Following the sale, the chief executive officer directly owned 1,196,494 shares in the company, valued at approximately $17,337,198.06. This trade represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sarina Tanimoto sold 37,656 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total value of $530,573.04. Following the transaction, the insider directly owned 1,247,447 shares of the company's stock, valued at $17,576,528.23. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 882,649 shares of company stock valued at $15,773,760. 33.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $31.00.

ARS Pharmaceuticals Trading Down 9.2%

Shares of SPRY traded down $1.37 during midday trading on Friday, hitting $13.50. 3,133,139 shares of the stock were exchanged, compared to its average volume of 1,563,049. ARS Pharmaceuticals, Inc. has a 52-week low of $10.00 and a 52-week high of $18.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.98 and a current ratio of 6.17. The stock has a fifty day simple moving average of $16.84 and a 200 day simple moving average of $14.35. The firm has a market cap of $1.33 billion, a P/E ratio of -27.55 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) earnings per share (EPS) 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 firm had revenue of $15.72 million during the quarter, compared to analysts' expectations of $12.92 million. On average, research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal 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.