Northern Trust Corp Increases Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Northern Trust Corp boosted its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 478,153 shares of the company's stock after purchasing an additional 25,773 shares during the period. Northern Trust Corp owned about 0.49% of ARS Pharmaceuticals worth $5,045,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in ARS Pharmaceuticals in the fourth quarter worth $73,000. Compass Capital Corp MA ADV bought a new position in shares of ARS Pharmaceuticals in the fourth quarter worth about $106,000. Teacher Retirement System of Texas purchased a new position in ARS Pharmaceuticals in the 4th quarter worth about $122,000. Amica Mutual Insurance Co. bought a new stake in ARS Pharmaceuticals during the 4th quarter valued at about $151,000. Finally, PEAK6 LLC purchased a new stake in ARS Pharmaceuticals in the 4th quarter valued at about $162,000. 68.16% of the stock is currently owned by institutional investors.

ARS Pharmaceuticals Stock Performance

Shares of SPRY opened at $14.22 on Thursday. The company has a 50 day moving average price of $13.48 and a 200-day moving average price of $12.88. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The stock has a market capitalization of $1.40 billion, a PE ratio of -27.88 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.35). The company had revenue of $7.97 million for the quarter, compared to analysts' expectations of $7.48 million. Equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Analyst Ratings Changes

SPRY has been the subject of several research analyst reports. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They set an "outperform" rating and a $40.00 price target for the company. Scotiabank assumed coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price for the company. Finally, William Blair reiterated an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ARS Pharmaceuticals has a consensus rating of "Buy" and an average target price of $31.00.

Insider Buying and Selling

In other news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 7,696 shares of the company's stock, valued at $107,744. The trade was a 56.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura Shawver sold 50,002 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $12.30, for a total transaction of $615,024.60. Following the completion of the sale, the director now owns 210,346 shares of the company's stock, valued at approximately $2,587,255.80. This trade represents a 19.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,602 shares of company stock worth $1,311,041 in the last three months. 33.50% of the stock is owned by 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.

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