MPM Bioimpact LLC Acquires New Shares in ARS Pharmaceuticals, Inc. $SPRY

Key Points

• MPM Bioimpact LLC has acquired over 1.3 million shares of ARS Pharmaceuticals, with an investment valued at approximately $16.5 million, making it the 13th largest holding in their portfolio.
• ARS Pharmaceuticals recently reported earnings of ($0.46) per share, missing analysts' expectations, and has a consensus target price set at $31.00 despite recent stock downgrades.
• Approximately 68.16% of ARS Pharmaceuticals' stock is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.

MPM Bioimpact LLC acquired a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,313,104 shares of the company's stock, valued at approximately $16,519,000. ARS Pharmaceuticals makes up about 2.8% of MPM Bioimpact LLC's holdings, making the stock its 13th biggest holding. MPM Bioimpact LLC owned approximately 1.34% of ARS Pharmaceuticals at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in ARS Pharmaceuticals by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,488,293 shares of the company's stock valued at $43,883,000 after buying an additional 23,341 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of ARS Pharmaceuticals by 903.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after purchasing an additional 1,128,724 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of ARS Pharmaceuticals by 149.0% during the first quarter. Levin Capital Strategies L.P. now owns 1,164,601 shares of the company's stock valued at $14,651,000 after purchasing an additional 696,974 shares in the last quarter. Woodline Partners LP boosted its stake in shares of ARS Pharmaceuticals by 13.5% during the fourth quarter. Woodline Partners LP now owns 1,119,283 shares of the company's stock valued at $11,808,000 after purchasing an additional 133,276 shares in the last quarter. Finally, Aberdeen Group plc acquired a new stake in shares of ARS Pharmaceuticals during the first quarter valued at about $12,613,000. 68.16% of the stock is owned by institutional investors and hedge funds.

ARS Pharmaceuticals Trading Down 9.6%

Shares of SPRY stock opened at $11.62 on Tuesday. The company has a market cap of $1.15 billion, a P/E ratio of -23.71 and a beta of 0.88. The stock has a 50 day simple moving average of $16.46 and a two-hundred day simple moving average of $14.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.98 and a current ratio of 6.17. ARS Pharmaceuticals, Inc. has a fifty-two week low of $10.00 and a fifty-two week high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.05). The business had revenue of $15.72 million during 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%. Research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $31.00.

Insider Activity

In other news, major shareholder James E. Flynn sold 740,149 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $18.46, for a total transaction of $13,663,150.54. Following the transaction, the insider directly owned 4,887,254 shares of the company's stock, valued at $90,218,708.84. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $16.99, for a total transaction of $254,850.00. Following the transaction, the insider owned 10,315 shares of the company's stock, valued at $175,251.85. This represents a 59.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 882,649 shares of company stock valued at $15,773,760. Corporate 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.

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