Harbour Capital Advisors LLC bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 28,650 shares of the company's stock, valued at approximately $384,000.
Several other hedge funds also recently made changes to their positions in SPRY. Bernard Wealth Management Corp. bought a new stake in ARS Pharmaceuticals during the fourth quarter worth about $27,000. GAMMA Investing LLC lifted its holdings in shares of ARS Pharmaceuticals by 4,319.7% during the first quarter. GAMMA Investing LLC now owns 3,359 shares of the company's stock valued at $420,000 after purchasing an additional 3,283 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter valued at approximately $73,000. BNP Paribas Financial Markets bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $75,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $105,000. 68.16% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
SPRY has been the subject of a number of recent research reports. William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Scotiabank began coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 target price on the stock. Finally, Wall Street Zen lowered ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.00.
Check Out Our Latest Stock Analysis on ARS Pharmaceuticals
ARS Pharmaceuticals Stock Up 2.9%
NASDAQ SPRY traded up $0.48 during mid-day trading on Wednesday, reaching $17.26. The stock had a trading volume of 1,399,148 shares, compared to its average volume of 1,317,097. The stock has a market cap of $1.70 billion, a PE ratio of -107.87 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a 1 year low of $7.55 and a 1 year high of $18.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.00 and a quick ratio of 10.74. The company has a fifty day moving average price of $14.45 and a 200 day moving average price of $12.92.
ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.35). The firm had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. ARS Pharmaceuticals had a negative return on equity of 6.94% and a negative net margin of 16.11%. On average, research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.
Insiders Place Their Bets
In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total value of $1,451,862.90. Following the completion of the transaction, the insider now directly owns 89,613 shares in the company, valued at $1,263,543.30. This represents a 53.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $16.00, for a total transaction of $240,000.00. Following the transaction, the insider now owns 7,696 shares in the company, valued at approximately $123,136. This trade represents a 66.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 337,971 shares of company stock worth $4,721,888 over the last quarter. 33.50% of the stock is currently owned by corporate insiders.
ARS Pharmaceuticals Company Profile
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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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