Knights of Columbus Asset Advisors LLC Boosts Stock Position in ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Knights of Columbus Asset Advisors LLC increased its holdings in ARS Pharmaceuticals by 57.8% in Q2, owning 68,094 shares valued at approximately $1.19 million.
• Despite reporting missing earnings estimates for the quarter with a loss of ($0.46) per share, ARS Pharmaceuticals achieved revenue of $15.72 million, exceeding expectations of $12.92 million.
• Several analysts have set new price targets for ARS Pharmaceuticals, with Roth Capital issuing a target of $40.00 and Raymond James setting a target at $32.00.

Knights of Columbus Asset Advisors LLC boosted its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 57.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,094 shares of the company's stock after acquiring an additional 24,950 shares during the quarter. Knights of Columbus Asset Advisors LLC owned 0.07% of ARS Pharmaceuticals worth $1,188,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in ARS Pharmaceuticals by 31.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 591,425 shares of the company's stock valued at $10,320,000 after purchasing an additional 142,756 shares in the last quarter. Harbour Capital Advisors LLC raised its position in ARS Pharmaceuticals by 102.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 57,950 shares of the company's stock valued at $971,000 after purchasing an additional 29,300 shares in the last quarter. Rhumbline Advisers raised its position in ARS Pharmaceuticals by 7.1% during the 1st quarter. Rhumbline Advisers now owns 69,766 shares of the company's stock valued at $878,000 after purchasing an additional 4,603 shares in the last quarter. Diker Management LLC bought a new stake in ARS Pharmaceuticals during the 1st quarter valued at $264,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in ARS Pharmaceuticals by 13.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company's stock valued at $3,520,000 after purchasing an additional 32,526 shares in the last quarter. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Stock Up 0.6%

Shares of SPRY stock opened at $10.33 on Wednesday. ARS Pharmaceuticals, Inc. has a 1-year low of $9.34 and a 1-year high of $18.90. The stock's fifty day moving average price is $12.59 and its 200 day moving average price is $14.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -21.08 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.The business had revenue of $15.72 million for the quarter, compared to analysts' expectations of $12.92 million. On average, research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Roth Capital started coverage on ARS Pharmaceuticals in a research report on Thursday, September 4th. They set a "buy" rating and a $40.00 target price for the company. Raymond James Financial set a $32.00 price target on ARS Pharmaceuticals in a research report on Friday, September 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of ARS Pharmaceuticals in a research report on Saturday, September 27th. Finally, Wall Street Zen lowered ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.80.

Insider Buying and Selling

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $187,500.00. Following the sale, the chief financial officer owned 10,042 shares in the company, valued at approximately $150,630. The trade was a 55.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard E. Lowenthal sold 50,000 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $14.49, for a total value of $724,500.00. Following the sale, the chief executive officer owned 1,196,494 shares in the company, valued at approximately $17,337,198.06. The trade was a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,500 shares of company stock worth $1,615,759 in the last ninety days. 33.50% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding SPRY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.