The Manufacturers Life Insurance Company Sells 27,328 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

The Manufacturers Life Insurance Company decreased its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 58.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & 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.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. increased its stake in 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 purchasing an additional 3,807,074 shares in the last quarter. Vanguard Group Inc. increased its stake in ARS Pharmaceuticals by 3.5% in the fourth 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 in the last quarter. Geode Capital Management LLC increased its stake in ARS Pharmaceuticals by 0.3% in the fourth 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 in the last quarter. Royce & Associates LP increased its stake in ARS Pharmaceuticals by 34.4% in the fourth quarter. Royce & Associates LP now owns 929,613 shares of the company's stock valued at $9,807,000 after purchasing an additional 238,158 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in ARS Pharmaceuticals in the fourth quarter valued at $6,576,000. Institutional investors and hedge funds own 68.16% of the company's stock.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Brent L. Saunders sold 120,000 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.25, for a total value of $1,710,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now owns 7,696 shares in the company, valued at approximately $107,744. The trade was a 56.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 382,571 shares of company stock worth $5,177,904 over the last three months. 33.50% of the stock is currently owned by insiders.

ARS Pharmaceuticals Stock Up 3.2%

ARS Pharmaceuticals stock traded up $0.46 during midday trading on Friday, hitting $14.98. 2,307,209 shares of the stock were exchanged, compared to its average volume of 1,257,728. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -29.37 and a beta of 0.84. The business's 50-day moving average price is $13.61 and its 200-day moving average price is $12.85.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The firm had revenue of $7.97 million for the quarter, compared to analysts' expectations of $7.48 million. On average, sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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