Allspring Global Investments Holdings LLC Buys 24,385 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Allspring Global Investments Holdings LLC raised its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 7.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 368,556 shares of the company's stock after buying an additional 24,385 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.38% of ARS Pharmaceuticals worth $4,636,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SPRY. Matisse Capital acquired a new stake in ARS Pharmaceuticals during the 1st quarter valued at $701,000. Harbour Capital Advisors LLC acquired a new stake in ARS Pharmaceuticals during the 1st quarter valued at $384,000. AssuredPartners Investment Advisors LLC raised its stake in ARS Pharmaceuticals by 133.4% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 69,111 shares of the company's stock valued at $869,000 after purchasing an additional 39,500 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in ARS Pharmaceuticals during the 1st quarter valued at $189,000. Finally, Advisor Resource Council acquired a new position in shares of ARS Pharmaceuticals in the first quarter worth $3,135,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Up 5.6%

ARS Pharmaceuticals stock traded up $0.95 during mid-day trading on Wednesday, hitting $17.90. 1,207,974 shares of the company's stock were exchanged, compared to its average volume of 1,348,988. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30. The stock has a market cap of $1.76 billion, a P/E ratio of -111.87 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 1-year low of $8.91 and a 1-year high of $18.90. The stock has a 50 day moving average of $15.05 and a two-hundred day moving average of $13.31.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. As a group, analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Insider Activity

In other ARS Pharmaceuticals news, insider Eric Karas sold 15,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $16.99, for a total transaction of $254,850.00. Following the completion of the sale, the insider directly owned 10,315 shares in the company, valued at $175,251.85. This represents a 59.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathleen D. Scott sold 50,000 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $705,000.00. Following the sale, the chief financial officer owned 7,424 shares of the company's stock, valued at $104,678.40. This trade represents a 87.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,043,118 shares of company stock valued at $18,024,863. Corporate insiders own 33.50% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 28th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $31.00.

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.