Harbour Capital Advisors LLC bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,650 shares of the company's stock, valued at approximately $384,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in ARS Pharmaceuticals by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock valued at $1,722,000 after acquiring an additional 917 shares during the last quarter. Rhumbline Advisers boosted its holdings in ARS Pharmaceuticals by 2.9% in the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company's stock valued at $687,000 after acquiring an additional 1,824 shares during the last quarter. Mariner LLC boosted its holdings in ARS Pharmaceuticals by 5.8% in the fourth quarter. Mariner LLC now owns 35,908 shares of the company's stock valued at $379,000 after acquiring an additional 1,972 shares during the last quarter. LPL Financial LLC boosted its holdings in ARS Pharmaceuticals by 11.4% in the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company's stock valued at $226,000 after acquiring an additional 2,190 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in ARS Pharmaceuticals in the fourth quarter valued at approximately $27,000. 68.16% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Laura Shawver sold 50,002 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $12.30, for a total value of $615,024.60. Following the transaction, the director now directly owns 210,346 shares in the company, valued at $2,587,255.80. This trade represents a 19.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kathleen D. Scott sold 50,000 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total value of $705,000.00. Following the completion of the transaction, the chief financial officer now owns 7,424 shares in the company, valued at approximately $104,678.40. This represents a 87.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 337,971 shares of company stock worth $4,721,888 in the last ninety days. Corporate insiders own 33.50% of the company's stock.
ARS Pharmaceuticals Trading Up 0.7%
SPRY traded up $0.12 during trading on Friday, hitting $18.20. The company's stock had a trading volume of 3,883,996 shares, compared to its average volume of 1,324,436. ARS Pharmaceuticals, Inc. has a twelve month low of $8.35 and a twelve month high of $18.90. The company has a quick ratio of 10.74, a current ratio of 11.00 and a debt-to-equity ratio of 0.30. The stock's fifty day moving average price is $14.63 and its 200-day moving average price is $13.03. The firm has a market capitalization of $1.79 billion, a P/E ratio of -113.74 and a beta of 0.84.
ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). ARS Pharmaceuticals had a negative return on equity of 6.94% and a negative net margin of 16.11%. The firm had revenue of $7.97 million for the quarter, compared to analyst estimates of $7.48 million. Analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.
Wall Street Analysts Forecast Growth
SPRY has been the topic of several analyst reports. Wall Street Zen upgraded ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Scotiabank assumed coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $31.00.
Check Out Our Latest Stock Report on ARS Pharmaceuticals
ARS Pharmaceuticals Company Profile
(
Free Report)
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.
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