Janney Montgomery Scott LLC Boosts Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Janney Montgomery Scott LLC lifted its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 1,552.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 448,669 shares of the company's stock after acquiring an additional 421,511 shares during the period. Janney Montgomery Scott LLC owned 0.46% of ARS Pharmaceuticals worth $5,644,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Alliancebernstein L.P. grew its stake in ARS Pharmaceuticals by 5,168.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock worth $40,942,000 after purchasing an additional 3,807,074 shares during the period. Vanguard Group Inc. boosted its holdings in shares of ARS Pharmaceuticals by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock valued at $36,555,000 after buying an additional 115,656 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of ARS Pharmaceuticals by 903.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after buying an additional 1,128,724 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ARS Pharmaceuticals by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock worth $13,066,000 after buying an additional 3,351 shares during the period. Finally, Woodline Partners LP lifted its position in ARS Pharmaceuticals by 13.5% during the 4th quarter. Woodline Partners LP now owns 1,119,283 shares of the company's stock valued at $11,808,000 after acquiring an additional 133,276 shares during the period. Institutional investors own 68.16% of the company's stock.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was 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 owns 89,613 shares of the company's stock, valued at approximately $1,263,543.30. The trade was a 53.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Karas sold 15,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $16.00, for a total transaction of $240,000.00. Following the sale, the insider now directly owns 7,696 shares in the company, valued at approximately $123,136. The trade was a 66.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 337,971 shares of company stock valued at $4,721,888 over the last 90 days. Corporate insiders own 33.50% of the company's stock.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $15.80 on Monday. ARS Pharmaceuticals, Inc. has a 1 year low of $7.55 and a 1 year high of $18.51. The firm's 50-day moving average is $14.37 and its 200 day moving average is $12.88. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -98.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.00 and a quick ratio of 10.74.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. The business had revenue of $7.97 million during the quarter, compared to analysts' expectations of $7.48 million. Sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SPRY shares. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Wall Street Zen lowered shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Scotiabank began 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 equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.00.

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.

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