40,500 Shares in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Purchased by Schulhoff & Co. Inc.

Key Points

• Schulhoff & Co. Inc. acquired 40,500 shares of ARS Pharmaceuticals, valued at approximately $509,000, indicating institutional interest in the company.
• Insider Eric Karas sold 15,000 shares at an average price of $16.99, resulting in a significant 59.25% decrease in ownership, while major shareholder James E. Flynn sold 740,149 shares valued at over $13.6 million.
• Recent analyst ratings for ARS Pharmaceuticals saw a downgrade from a "hold" to a "sell," with six analysts recommending buying and an average price target of $31.00.

Schulhoff & Co. Inc. acquired a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 40,500 shares of the company's stock, valued at approximately $509,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPRY. Allspring Global Investments Holdings LLC boosted its stake in shares of ARS Pharmaceuticals by 7.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 368,556 shares of the company's stock valued at $4,636,000 after buying an additional 24,385 shares during the period. Wells Fargo & Company MN lifted its stake in shares of ARS Pharmaceuticals by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock valued at $440,000 after purchasing an additional 13,361 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at $189,000. Vanguard Group Inc. lifted its stake in shares of ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock valued at $36,555,000 after purchasing an additional 115,656 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of ARS Pharmaceuticals by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company's stock valued at $636,000 after purchasing an additional 2,670 shares during the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Down 1.4%

Shares of ARS Pharmaceuticals stock traded down $0.26 during trading hours on Thursday, reaching $17.62. The company's stock had a trading volume of 688,748 shares, compared to its average volume of 1,515,106. The company has a market capitalization of $1.73 billion, a P/E ratio of -110.31 and a beta of 0.90. The stock's fifty day simple moving average is $16.33 and its two-hundred day simple moving average is $14.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.74 and a current ratio of 11.00. ARS Pharmaceuticals, Inc. has a one year low of $8.91 and a one year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting 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. ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. On average, research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.00.

Insider Buying and Selling

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 102,969 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total value of $1,451,862.90. Following the completion of the sale, the insider owned 89,613 shares of the company's stock, valued at approximately $1,263,543.30. This trade represents a 53.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathleen D. Scott sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total value of $705,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,424 shares of the company's stock, valued at $104,678.40. The trade was a 87.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,043,118 shares of company stock valued at $18,024,863 over the last 90 days. 33.50% of the stock is currently owned by 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.