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

Rafferty Asset Management LLC grew its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 72.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 about 0.14% of ARS Pharmaceuticals worth $1,481,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SPRY. 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 valued at $40,942,000 after buying an additional 3,807,074 shares during the period. Alyeska Investment Group L.P. raised its holdings in 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 worth $13,227,000 after purchasing an additional 1,128,724 shares during the last quarter. Raymond James Financial Inc. acquired a new position in ARS Pharmaceuticals during the fourth quarter worth $6,576,000. Millennium Management LLC raised its holdings in ARS Pharmaceuticals by 93.0% during the fourth quarter. Millennium Management LLC now owns 939,278 shares of the company's stock worth $9,909,000 after purchasing an additional 452,532 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in ARS Pharmaceuticals during the fourth quarter worth $4,469,000. 68.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now owns 7,696 shares of the company's stock, valued at approximately $107,744. This represents a 56.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Laura Shawver sold 49,600 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $11.21, for a total value of $556,016.00. Following the completion of the transaction, the director now directly owns 210,346 shares of the company's stock, valued at $2,357,978.66. This represents a 19.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,571 shares of company stock valued at $5,177,904 over the last quarter. Company insiders own 33.50% of the company's stock.

ARS Pharmaceuticals Stock Up 3.2%

Shares of NASDAQ SPRY traded up $0.46 on Friday, hitting $14.98. The company had a trading volume of 2,307,209 shares, compared to its average volume of 1,253,814. ARS Pharmaceuticals, Inc. has a 12-month low of $7.55 and a 12-month high of $18.51. The business has a 50 day moving average of $13.54 and a two-hundred day moving average of $12.87. 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 issued its earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $7.97 million during the quarter, compared to analysts' expectations of $7.48 million. On average, sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

About ARS Pharmaceuticals

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.