Ardsley Advisory Partners LP Purchases Shares of 325,000 ARS Pharmaceuticals, Inc. $SPRY

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 shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 325,000 shares of the company's stock, valued at approximately $4,088,000. Ardsley Advisory Partners LP owned about 0.33% of ARS Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in shares of ARS Pharmaceuticals during the fourth quarter valued at $27,000. ANTIPODES PARTNERS Ltd bought a new position in shares of ARS Pharmaceuticals in the first quarter worth about $37,000. PNC Financial Services Group Inc. raised its stake in shares of ARS Pharmaceuticals by 78,100.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock worth $49,000 after buying an additional 3,905 shares during the period. BNP Paribas Financial Markets bought a new position in shares of ARS Pharmaceuticals in the fourth quarter worth about $75,000. Finally, Ball & Co Wealth Management Inc. bought a new position in shares of ARS Pharmaceuticals in the fourth quarter worth about $105,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Down 5.8%

NASDAQ SPRY traded down $0.62 on Friday, reaching $10.07. 5,198,565 shares of the stock traded hands, compared to its average volume of 2,775,677. 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 company has a fifty day moving average price of $15.90 and a 200-day moving average price of $14.37. The company has a market cap of $995.22 million, a price-to-earnings ratio of -20.55 and a beta of 0.87. ARS Pharmaceuticals, Inc. has a 12 month low of $9.97 and a 12 month high of $18.90.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen cut ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Roth Capital initiated coverage on ARS Pharmaceuticals in a report on Thursday. They set a "buy" rating and a $40.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $32.50.

Insider Transactions at ARS Pharmaceuticals

In related news, major shareholder James E. Flynn sold 740,149 shares of the business's stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard E. Lowenthal sold 50,000 shares of the business's 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 transaction, the chief executive officer 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 disclosure for this sale can be found here. In the last quarter, insiders sold 882,649 shares of company stock worth $15,773,760. Company insiders own 33.50% of the company's stock.

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.