Alliancebernstein L.P. Acquires 42,071 Shares of ARS Pharmaceuticals, Inc. $SPRY

Alliancebernstein L.P. raised its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,922,805 shares of the company's stock after acquiring an additional 42,071 shares during the period. Alliancebernstein L.P. owned about 3.99% of ARS Pharmaceuticals worth $49,349,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SPRY. MPM Bioimpact LLC bought a new stake in ARS Pharmaceuticals during the first quarter worth about $16,519,000. Aberdeen Group plc bought a new stake in ARS Pharmaceuticals during the first quarter worth about $12,613,000. Levin Capital Strategies L.P. grew its stake in ARS Pharmaceuticals by 149.0% during the first quarter. Levin Capital Strategies L.P. now owns 1,164,601 shares of the company's stock worth $14,651,000 after buying an additional 696,974 shares during the last quarter. Millennium Management LLC grew its position in ARS Pharmaceuticals by 93.0% during the 4th quarter. Millennium Management LLC now owns 939,278 shares of the company's stock worth $9,909,000 after acquiring an additional 452,532 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position 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 acquiring an additional 421,511 shares during the last quarter. Institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Trading Down 2.9%

Shares of NASDAQ:SPRY traded down $0.29 during midday trading on Friday, hitting $9.86. The company had a trading volume of 941,871 shares, compared to its average volume of 1,709,484. ARS Pharmaceuticals, Inc. has a 12 month low of $9.82 and a 12 month high of $18.90. The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37. The stock has a market cap of $974.27 million, a price-to-earnings ratio of -20.07 and a beta of 0.87. The firm has a fifty day simple moving average of $15.40 and a 200 day simple moving average of $14.32.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued 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). ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.The company had revenue of $15.72 million for the quarter, compared to the consensus estimate of $12.92 million. On average, analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Roth Capital initiated coverage on ARS Pharmaceuticals in a research report on Thursday, September 4th. They set a "buy" rating and a $40.00 price target on the stock. Wall Street Zen cut shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $32.50.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, insider Sarina Tanimoto sold 37,656 shares of ARS Pharmaceuticals stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total transaction of $530,573.04. Following the transaction, the insider owned 1,247,447 shares of the company's stock, valued at $17,576,528.23. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $16.00, for a total transaction of $240,000.00. Following the transaction, the insider directly owned 7,696 shares in the company, valued at $123,136. The trade was a 66.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 882,649 shares of company stock worth $15,773,760 over the last ninety days. 33.50% of the stock is owned by corporate 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.