The Manufacturers Life Insurance Company Reduces Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

The Manufacturers Life Insurance Company reduced its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,526 shares of the company's stock after selling 27,328 shares during the period. The Manufacturers Life Insurance Company's holdings in ARS Pharmaceuticals were worth $206,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPRY. Alliancebernstein L.P. grew its stake in shares of ARS Pharmaceuticals by 5,168.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock valued at $40,942,000 after buying an additional 3,807,074 shares in the last quarter. Raymond James Financial Inc. purchased a new position in ARS Pharmaceuticals during the 4th quarter valued at about $6,576,000. Peregrine Capital Management LLC purchased a new position in ARS Pharmaceuticals during the 4th quarter valued at about $4,469,000. Royce & Associates LP grew its position in ARS Pharmaceuticals by 34.4% in the 4th quarter. Royce & Associates LP now owns 929,613 shares of the company's stock valued at $9,807,000 after acquiring an additional 238,158 shares in the last quarter. Finally, Levin Capital Strategies L.P. increased its stake in ARS Pharmaceuticals by 56.2% during the fourth quarter. Levin Capital Strategies L.P. now owns 467,627 shares of the company's stock worth $4,933,000 after purchasing an additional 168,201 shares during the period. Institutional investors and hedge funds own 68.16% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPRY. Wall Street Zen lowered shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Thursday. Oppenheimer started coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target for the company. Scotiabank initiated coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target for the company. Finally, William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Insider Activity at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now directly owns 7,696 shares of the company's stock, valued at $107,744. This represents a 56.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Laura Shawver sold 49,600 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total transaction of $556,016.00. Following the sale, the director now owns 210,346 shares of the company's stock, valued at $2,357,978.66. This represents a 19.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,602 shares of company stock valued at $1,311,041 over the last quarter. 33.50% of the stock is owned by insiders.

ARS Pharmaceuticals Stock Up 2.1%

ARS Pharmaceuticals stock traded up $0.30 during trading on Thursday, reaching $14.52. The stock had a trading volume of 875,675 shares, compared to its average volume of 1,241,643. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51. The stock has a market cap of $1.43 billion, a PE ratio of -28.47 and a beta of 0.84. The business has a 50 day moving average price of $13.48 and a 200 day moving average price of $12.88.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.35). The firm had revenue of $7.97 million during the quarter, compared to analyst estimates of $7.48 million. On average, equities analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

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.