Millennium Management LLC Raises Stock Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Millennium Management LLC lifted its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 93.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 939,278 shares of the company's stock after buying an additional 452,532 shares during the quarter. Millennium Management LLC owned about 0.97% of ARS Pharmaceuticals worth $9,909,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of ARS Pharmaceuticals during the 4th quarter worth approximately $73,000. BNP Paribas Financial Markets acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at $75,000. Compass Capital Corp MA ADV acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at $106,000. Teacher Retirement System of Texas acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at $122,000. Finally, Freestone Grove Partners LP acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at $132,000. Institutional investors and hedge funds own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Up 2.1%

NASDAQ:SPRY traded up $0.32 during trading hours on Thursday, hitting $15.17. 205,920 shares of the company traded hands, compared to its average volume of 1,254,912. The firm's 50-day simple moving average is $13.73 and its 200-day simple moving average is $12.84. ARS Pharmaceuticals, Inc. has a one year low of $7.55 and a one year high of $18.51. The company has a market cap of $1.49 billion, a PE ratio of -29.75 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting analysts' consensus estimates of ($0.35). The business had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. As a group, equities research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

SPRY has been the subject of several research reports. Scotiabank initiated coverage on shares of ARS Pharmaceuticals in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target for the company. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.00.

Insider Transactions at ARS Pharmaceuticals

In other news, CFO Kathleen D. Scott sold 50,000 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total transaction of $705,000.00. Following the sale, the chief financial officer now directly owns 7,424 shares in the company, valued at $104,678.40. The trade was a 87.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brent L. Saunders sold 120,000 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $14.25, for a total value of $1,710,000.00. The disclosure for this sale can be found here. Insiders have sold 382,571 shares of company stock worth $5,177,904 in the last ninety days. Company insiders own 33.50% of the company's stock.

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.