Legato Capital Management LLC Acquires 75,130 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Legato Capital Management LLC grew its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 350.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,591 shares of the company's stock after purchasing an additional 75,130 shares during the period. Legato Capital Management LLC owned about 0.10% of ARS Pharmaceuticals worth $1,215,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Alliancebernstein L.P. increased its holdings in shares of ARS Pharmaceuticals by 5,168.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock valued at $40,942,000 after purchasing an additional 3,807,074 shares during the period. Vanguard Group Inc. increased its holdings in shares of ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock valued at $36,555,000 after purchasing an additional 115,656 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of ARS Pharmaceuticals by 903.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after purchasing an additional 1,128,724 shares during the period. Geode Capital Management LLC increased its holdings in shares of ARS Pharmaceuticals by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock valued at $13,066,000 after purchasing an additional 3,351 shares during the period. Finally, Woodline Partners LP increased its holdings in shares of ARS Pharmaceuticals by 13.5% in the 4th quarter. Woodline Partners LP now owns 1,119,283 shares of the company's stock valued at $11,808,000 after purchasing an additional 133,276 shares during the period. Institutional investors and hedge funds own 68.16% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

ARS Pharmaceuticals Stock Down 0.3%

Shares of NASDAQ SPRY traded down $0.05 during trading hours on Friday, hitting $17.87. The stock had a trading volume of 2,727,867 shares, compared to its average volume of 1,381,491. The company has a market capitalization of $1.76 billion, a P/E ratio of -111.68 and a beta of 0.90. The firm's 50-day moving average price is $16.10 and its two-hundred day moving average price is $13.88. ARS Pharmaceuticals, Inc. has a 52 week low of $8.91 and a 52 week high of $18.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.74 and a current ratio of 11.00.

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

Insider Activity

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the completion of the sale, the insider owned 89,613 shares of the company's stock, valued at $1,263,543.30. This represents a 53.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brent L. Saunders sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.25, for a total value of $1,710,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,043,118 shares of company stock valued at $18,024,863. 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.