325,000 Shares in ARS Pharmaceuticals, Inc. $SPRY Purchased by Ardsley Advisory Partners LP

Key Points

• Ardsley Advisory Partners LP has acquired a new position worth approximately $4.09 million in ARS Pharmaceuticals, buying 325,000 shares during the first quarter.
• Institutional investors and hedge funds own 68.16% of ARS Pharmaceuticals' stock, indicating significant interest from larger investment entities.
• ARS Pharmaceuticals recently reported a quarterly loss of ($0.46) EPS, missing the consensus estimate, while the stock carries an average rating of "Buy" with a target price of $31.00.

Ardsley Advisory Partners LP acquired a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 325,000 shares of the company's stock, valued at approximately $4,088,000. Ardsley Advisory Partners LP owned approximately 0.33% of ARS Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. MPM Bioimpact LLC purchased a new stake in ARS Pharmaceuticals in the 1st quarter valued at approximately $16,519,000. Royal Bank of Canada boosted its holdings in ARS Pharmaceuticals by 1,075.3% in the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company's stock valued at $234,000 after purchasing an additional 16,969 shares in the last quarter. Quarry LP purchased a new stake in ARS Pharmaceuticals in the 1st quarter valued at approximately $415,000. DAFNA Capital Management LLC boosted its holdings in ARS Pharmaceuticals by 7.3% in the 1st quarter. DAFNA Capital Management LLC now owns 95,290 shares of the company's stock valued at $1,199,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in ARS Pharmaceuticals in the 1st quarter valued at approximately $756,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Price Performance

SPRY traded up $0.08 during trading on Monday, reaching $10.15. 2,434,831 shares of the stock were exchanged, compared to its average volume of 1,685,679. 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, Inc. has a 1 year low of $9.97 and a 1 year high of $18.90. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -20.73 and a beta of 0.88. The business's 50 day moving average price is $15.90 and its two-hundred day moving average price is $14.38.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued 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 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 analyst estimates of $12.92 million. As a group, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPRY shares. Roth Capital started coverage on ARS Pharmaceuticals in a report on Thursday. They issued a "buy" rating and a $40.00 price objective on the stock. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, ARS Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $32.50.

Insider Activity

In related news, major shareholder James E. Flynn sold 740,149 shares of ARS Pharmaceuticals stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $18.46, for a total transaction of $13,663,150.54. Following the completion of the transaction, the insider directly owned 4,887,254 shares in the company, valued at $90,218,708.84. The trade was a 13.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard E. Lowenthal sold 50,000 shares of ARS Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief executive officer owned 1,196,494 shares of the company's stock, valued at $17,337,198.06. This represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 882,649 shares of company stock worth $15,773,760. 33.50% of the stock is owned by corporate insiders.

ARS Pharmaceuticals Company 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.