Creek Drive Management Group LLC Makes New Investment in ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Creek Drive Management Group LLC disclosed a new fourth-quarter stake in ARS Pharmaceuticals, buying 295,863 shares worth about $3.45 million. The position makes SPRY its 14th-largest holding and about 2.4% of its portfolio.
• Insider selling was notable, with Alexander A. Fitzpatrick and Eric Karas both selling shares on June 12 under pre-arranged Rule 10b5-1 plans. Together, the sales totaled more than $283,000 at $10 per share.
• ARS Pharmaceuticals recently missed earnings expectations even as revenue came in slightly above estimates, and analysts currently rate the stock a “Moderate Buy” with an average price target of $28.60. The company’s lead product is neffy, a needle-free epinephrine nasal spray for severe allergic reactions.

Creek Drive Management Group LLC bought a new stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 295,863 shares of the company's stock, valued at approximately $3,447,000. ARS Pharmaceuticals accounts for approximately 2.4% of Creek Drive Management Group LLC's investment portfolio, making the stock its 14th largest holding. Creek Drive Management Group LLC owned 0.30% of ARS Pharmaceuticals as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of SPRY. Torren Management LLC acquired a new stake in shares of ARS Pharmaceuticals during the 4th quarter worth approximately $32,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in ARS Pharmaceuticals by 25.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company's stock valued at $56,000 after acquiring an additional 982 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $65,000. Russell Investments Group Ltd. boosted its stake in ARS Pharmaceuticals by 197.5% in the third 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 last quarter. Finally, Quantbot Technologies LP acquired a new stake in ARS Pharmaceuticals during the 3rd quarter worth $82,000. Institutional investors own 68.16% of the company's stock.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 3,355 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $909,100. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the transaction, the insider directly owned 12,176 shares of the company's stock, valued at approximately $121,760. The trade was a 67.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is owned by insiders.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $9.65 on Friday. The stock has a market cap of $958.25 million, a P/E ratio of -4.80 and a beta of 0.94. The firm has a 50 day moving average price of $8.57 and a 200 day moving average price of $9.35. 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 52-week low of $6.66 and a 52-week high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The firm had revenue of $22.68 million during the quarter, compared to analyst estimates of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. Analysts expect that ARS Pharmaceuticals, Inc. will post -1.89 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SPRY shares. Zacks Research raised ARS Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded ARS Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Cantor Fitzgerald lifted their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Weiss Ratings upgraded ARS Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 1st. Finally, Northland Securities assumed coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an "outperform" rating and a $25.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $28.60.

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

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