Kodai Capital Management LP Makes New $756,000 Investment in ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Kodai Capital Management LP acquired 60,111 shares of ARS Pharmaceuticals, Inc. valued at approximately $756,000, representing a stake of about 0.06% in the company.
• ARS Pharmaceuticals reported a quarterly earnings per share (EPS) of (-$0.46), missing analysts' expectations by ($0.05), while its revenue was reported at $15.72 million.
• Insiders have sold a total of 882,649 shares of ARS Pharmaceuticals stock worth approximately $15.77 million in the last ninety days, reflecting a significant insider turnover.

Kodai Capital Management LP purchased a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 60,111 shares of the company's stock, valued at approximately $756,000. Kodai Capital Management LP owned about 0.06% of ARS Pharmaceuticals as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in ARS Pharmaceuticals by 73.6% in the fourth quarter. JPMorgan Chase & Co. now owns 31,112 shares of the company's stock valued at $328,000 after purchasing an additional 13,190 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of ARS Pharmaceuticals by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock valued at $440,000 after buying an additional 13,361 shares during the period. Barclays PLC grew its stake in shares of ARS Pharmaceuticals by 41.7% in the 4th quarter. Barclays PLC now owns 158,180 shares of the company's stock valued at $1,669,000 after buying an additional 46,514 shares during the period. Mariner LLC increased its position in ARS Pharmaceuticals by 5.8% in the 4th quarter. Mariner LLC now owns 35,908 shares of the company's stock valued at $379,000 after buying an additional 1,972 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in ARS Pharmaceuticals by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 196,458 shares of the company's stock worth $2,073,000 after buying an additional 4,010 shares during the period. Institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Down 9.6%

Shares of NASDAQ:SPRY traded down $1.24 during midday trading on Monday, hitting $11.62. 7,180,242 shares of the company's stock were exchanged, compared to its average volume of 2,299,546. 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 stock has a 50 day moving average price of $16.46 and a 200-day moving average price of $14.42. The company has a market cap of $1.15 billion, a PE ratio of -23.71 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a 12 month low of $10.00 and a 12 month high of $18.90.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $31.00.

Insider Activity at ARS Pharmaceuticals

In other news, major shareholder James E. Flynn sold 740,149 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $18.46, for a total transaction of $13,663,150.54. Following the completion of the sale, the insider directly owned 4,887,254 shares of the company's stock, valued at $90,218,708.84. The trade was a 13.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard E. Lowenthal sold 50,000 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $14.49, for a total transaction of $724,500.00. Following the sale, the chief executive officer directly owned 1,196,494 shares of the company's stock, valued at approximately $17,337,198.06. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 882,649 shares of company stock valued at $15,773,760 over the last quarter. 33.50% of the stock is currently owned by company insiders.

ARS Pharmaceuticals Company 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.