Bank of America Corp DE Cuts Stake in ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Bank of America cut its ARS Pharmaceuticals stake by 40.7% in the first quarter, selling 196,356 shares and retaining 285,728 shares valued at approximately $2.3 million. Institutional investors collectively own 68.16% of the company.
• ARS Pharmaceuticals faces legal and commercialization uncertainty as investors pursue a securities class action alleging the company overstated progress toward eliminating CVS Caremark prior-authorization requirements for neffy. The allegations have not been proven.
• The company reported a quarterly loss of $0.63 per share, missing estimates, although revenue of $33.66 million exceeded expectations. Shares opened at $5.77, while analysts maintain a “Moderate Buy” consensus with an average price target of $28.20.

Bank of America Corp DE reduced its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 40.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 285,728 shares of the company's stock after selling 196,356 shares during the quarter. Bank of America Corp DE owned 0.29% of ARS Pharmaceuticals worth $2,294,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SPRY. Osaic Holdings Inc. raised its holdings in ARS Pharmaceuticals by 52.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company's stock worth $91,000 after acquiring an additional 1,803 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth $65,000. BNP Paribas Financial Markets raised its stake in shares of ARS Pharmaceuticals by 58.3% in the second quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company's stock worth $106,000 after purchasing an additional 2,245 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of ARS Pharmaceuticals by 197.5% in the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company's stock worth $67,000 after purchasing an additional 4,427 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of ARS Pharmaceuticals by 3,102.1% during the first quarter. Bessemer Group Inc. now owns 7,525 shares of the company's stock valued at $61,000 after purchasing an additional 7,290 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

Key ARS Pharmaceuticals News

Here are the key news stories impacting ARS Pharmaceuticals this week:

• Positive Sentiment: ARS Pharmaceuticals said CEO Donn Casale will participate in upcoming September investor conferences. The events could provide investors with updates on neffy’s commercialization, reimbursement and access efforts, although no new operating information was disclosed. ARS Pharmaceuticals to Participate in Upcoming Investor Conferences
• Neutral Sentiment: Several firms—including Pomerantz, Schall Brown & Schwartz, Faruqi & Faruqi, Rosen, Kaplan Fox and others—are seeking investors to serve as lead plaintiff in the same federal securities class action. The notices generally repeat the October 5, 2026 deadline and encourage affected shareholders to contact counsel; they do not represent a new operational development for the company. Pomerantz Investor Alert
• Negative Sentiment: The lawsuit alleges that ARS Pharmaceuticals overstated progress toward eliminating prior-authorization requirements with CVS Caremark, described as the last major pharmacy benefit manager barrier to unrestricted neffy access. Some notices claim management directed investors toward a July 1, 2026 coverage date that did not occur, contributing to a reported 23.9% one-day shareholder loss. The allegations have not been proven, but the litigation adds legal, reputational and commercialization uncertainty. SueWallSt ARS Pharmaceuticals Class Action Deadline

Insider Buying and Selling

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 3,355 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the completion of the transaction, the insider directly owned 90,910 shares in the company, valued at $909,100. This represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the transaction, the insider owned 12,176 shares of the company's stock, valued at approximately $121,760. This represents a 67.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by insiders.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY opened at $5.77 on Wednesday. The company has a market capitalization of $573.83 million, a P/E ratio of -2.65 and a beta of 1.05. ARS Pharmaceuticals, Inc. has a 1-year low of $4.91 and a 1-year high of $13.15. The firm's 50 day simple moving average is $6.67 and its two-hundred day simple moving average is $7.94. The company has a debt-to-equity ratio of 13.72, a current ratio of 3.48 and a quick ratio of 3.28.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.15). The firm had revenue of $33.66 million during the quarter, compared to analysts' expectations of $31.32 million. ARS Pharmaceuticals had a negative return on equity of 256.67% and a negative net margin of 184.24%. Research analysts expect that ARS Pharmaceuticals, Inc. will post -1.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald raised their price target on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, May 28th. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Leerink Partners dropped their target price on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Thursday, June 25th. Finally, Weiss Ratings cut ARS Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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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