ARS Pharmaceuticals, Inc. $SPRY Shares Purchased by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC increased its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 268.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,361,536 shares of the company's stock after purchasing an additional 991,967 shares during the period. ADAR1 Capital Management LLC owned approximately 1.37% of ARS Pharmaceuticals worth $10,933,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SPRY. Torren Management LLC acquired a new position in ARS Pharmaceuticals during the fourth quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in ARS Pharmaceuticals by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company's stock worth $56,000 after acquiring an additional 982 shares in the last quarter. Bessemer Group Inc. lifted its stake in ARS Pharmaceuticals by 3,102.1% during the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company's stock worth $61,000 after acquiring an additional 7,290 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in ARS Pharmaceuticals during the 4th quarter valued at about $65,000. Finally, Russell Investments Group Ltd. boosted its holdings in ARS Pharmaceuticals by 197.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company's stock valued at $67,000 after acquiring an additional 4,427 shares during the period. Institutional investors and hedge funds own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Down 1.6%

SPRY stock opened at $5.67 on Wednesday. The company's 50 day moving average price is $8.33 and its 200 day moving average price is $8.78. The company has a debt-to-equity ratio of 2.79, a quick ratio of 4.77 and a current ratio of 4.94. ARS Pharmaceuticals, Inc. has a fifty-two week low of $5.62 and a fifty-two week high of $18.50. The firm has a market capitalization of $563.03 million, a price-to-earnings ratio of -2.82 and a beta of 0.95.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%.The firm had revenue of $22.68 million during the quarter, compared to analysts' expectations of $22.20 million. On average, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Eric Karas sold 25,000 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider directly owned 12,176 shares in the company, valued at $121,760. This trade represents a 67.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $33,550.00. Following the completion of the sale, the insider owned 90,910 shares in the company, valued at approximately $909,100. This represents a 3.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 33.80% of the company's stock.

Wall Street Analyst Weigh In

SPRY has been the topic of a number of recent research reports. Northland Securities assumed coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an "outperform" rating and a $25.00 price target on the stock. Cantor Fitzgerald raised their price objective on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Leerink Partners dropped their price objective on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Thursday, June 25th. Weiss Ratings raised shares of ARS Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 1st. Finally, Wall Street Zen upgraded shares of ARS Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ARS Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $28.20.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.

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