Rafferty Asset Management LLC Grows Stock Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Rafferty Asset Management LLC boosted its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 72.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,372 shares of the company's stock after buying an additional 59,097 shares during the quarter. Rafferty Asset Management LLC owned 0.14% of ARS Pharmaceuticals worth $1,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Alliancebernstein L.P. lifted its holdings in shares of ARS Pharmaceuticals by 5,168.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock worth $40,942,000 after acquiring an additional 3,807,074 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in ARS Pharmaceuticals by 903.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock worth $13,227,000 after purchasing an additional 1,128,724 shares during the last quarter. Raymond James Financial Inc. bought a new stake in ARS Pharmaceuticals in the fourth quarter worth about $6,576,000. Millennium Management LLC boosted its position in shares of ARS Pharmaceuticals by 93.0% during the fourth quarter. Millennium Management LLC now owns 939,278 shares of the company's stock valued at $9,909,000 after buying an additional 452,532 shares during the period. Finally, Peregrine Capital Management LLC bought a new position in shares of ARS Pharmaceuticals during the fourth quarter valued at approximately $4,469,000. Institutional investors own 68.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPRY. Scotiabank began coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price target for the company. Wall Street Zen downgraded ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Thursday. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They set an "outperform" rating and a $40.00 target price for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY stock traded up $0.46 during mid-day trading on Monday, hitting $14.98. The stock had a trading volume of 2,307,209 shares, compared to its average volume of 1,257,728. ARS Pharmaceuticals, Inc. has a 12-month low of $7.55 and a 12-month high of $18.51. The firm's 50-day moving average is $13.61 and its two-hundred day moving average is $12.83. The firm has a market capitalization of $1.47 billion, a P/E ratio of -29.37 and a beta of 0.84.

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

Insider Activity

In other news, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 7,696 shares in the company, valued at approximately $107,744. This trade represents a 56.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura Shawver sold 49,600 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total value of $556,016.00. Following the sale, the director now owns 210,346 shares of the company's stock, valued at $2,357,978.66. This trade represents a 19.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 382,571 shares of company stock worth $5,177,904. 33.50% of the stock is currently owned by corporate 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.