ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,958 shares of the company's stock after selling 18,906 shares during the period. Bank of America Corp DE owned about 0.17% of ARS Pharmaceuticals worth $1,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of ARS Pharmaceuticals by 93.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company's stock worth $3,631,000 after purchasing an additional 165,950 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in ARS Pharmaceuticals by 47.1% during the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock worth $440,000 after buying an additional 13,361 shares during the last quarter. Peregrine Capital Management LLC bought a new position in ARS Pharmaceuticals during the 4th quarter worth approximately $4,469,000. Vanguard Group Inc. grew its position in shares of ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock worth $36,555,000 after acquiring an additional 115,656 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of ARS Pharmaceuticals by 12.9% in the 4th quarter. MetLife Investment Management LLC now owns 33,086 shares of the company's stock valued at $349,000 after acquiring an additional 3,769 shares during the last quarter. Institutional investors own 68.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen cut ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. 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 on the stock. William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Scotiabank assumed coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the transaction, the insider now owns 89,613 shares of the company's stock, valued at approximately $1,263,543.30. This trade represents a 53.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now owns 7,696 shares of the company's stock, valued at $107,744. This trade represents a 56.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 332,971 shares of company stock worth $4,621,888. 33.50% of the stock is owned by company insiders.

ARS Pharmaceuticals Stock Performance

Shares of SPRY traded up $1.05 during midday trading on Friday, hitting $14.49. 1,273,223 shares of the stock traded hands, compared to its average volume of 1,279,099. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51. The firm has a market capitalization of $1.42 billion, a PE ratio of -28.41 and a beta of 0.84. The business's 50 day moving average price is $13.93 and its two-hundred day moving average price is $12.81.

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 (EPS) for the quarter, hitting the consensus estimate of ($0.35). The business had revenue of $7.97 million for the quarter, compared to analyst estimates of $7.48 million. As a group, equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

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.