Wexford Capital LP Boosts Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Wexford Capital LP boosted its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 48.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,497 shares of the company's stock after buying an additional 121,150 shares during the period. ARS Pharmaceuticals makes up about 0.6% of Wexford Capital LP's investment portfolio, making the stock its 29th largest holding. Wexford Capital LP owned 0.38% of ARS Pharmaceuticals worth $3,898,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth $73,000. BNP Paribas Financial Markets bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth $75,000. Compass Capital Corp MA ADV bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth $106,000. Teacher Retirement System of Texas bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth $122,000. Finally, Freestone Grove Partners LP bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth $132,000. Institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock traded up $0.30 during trading hours on Thursday, hitting $14.52. The company's stock had a trading volume of 875,775 shares, compared to its average volume of 1,245,688. The business has a 50 day moving average price of $13.48 and a two-hundred day moving average price of $12.88. ARS Pharmaceuticals, Inc. has a 12-month low of $7.55 and a 12-month high of $18.51. The company has a market cap of $1.43 billion, a PE ratio of -28.47 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. As a group, research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Scotiabank began coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price objective for the company. Wall Street Zen lowered ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Oppenheimer started coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They issued an "outperform" rating and a $40.00 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $31.00.

Insiders Place Their Bets

In related news, insider Eric Karas sold 10,000 shares of the business'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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen D. Scott sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total value of $705,000.00. Following the completion of the sale, the chief financial officer now owns 7,424 shares of the company's stock, valued at $104,678.40. The trade was a 87.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 382,571 shares of company stock valued at $5,177,904 over the last ninety days. 33.50% of the stock is owned by 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.