ARS Pharmaceuticals, Inc. $SPRY Shares Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its holdings in ARS Pharmaceuticals by 78.2%, acquiring an additional 44,206 shares, bringing its total to 100,769 shares worth approximately $1,268,000.
• ARS Pharmaceuticals reported a loss of $0.46 per share for its most recent quarter, exceeding revenue expectations of $15.72 million against a consensus estimate of $12.92 million.
• Insiders sold a total of 882,649 shares worth $15,773,760 in the last 90 days, with CEO Richard E. Lowenthal selling 50,000 shares for $724,500.

Trexquant Investment LP increased its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 78.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,769 shares of the company's stock after acquiring an additional 44,206 shares during the period. Trexquant Investment LP owned approximately 0.10% of ARS Pharmaceuticals worth $1,268,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc purchased a new position in ARS Pharmaceuticals in the 1st quarter worth approximately $12,613,000. Levin Capital Strategies L.P. raised its position in shares of ARS Pharmaceuticals by 149.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 1,164,601 shares of the company's stock valued at $14,651,000 after buying an additional 696,974 shares during the period. Millennium Management LLC increased its holdings in ARS Pharmaceuticals by 93.0% in the 4th quarter. Millennium Management LLC now owns 939,278 shares of the company's stock valued at $9,909,000 after purchasing an additional 452,532 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in ARS Pharmaceuticals by 1,552.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 448,669 shares of the company's stock valued at $5,644,000 after purchasing an additional 421,511 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in ARS Pharmaceuticals by 1,431.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 344,941 shares of the company's stock valued at $3,639,000 after purchasing an additional 322,423 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder James E. Flynn sold 740,149 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $18.46, for a total value of $13,663,150.54. Following the completion of the sale, the insider directly owned 4,887,254 shares of the company's stock, valued at approximately $90,218,708.84. This represents a 13.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sarina Tanimoto sold 37,656 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total transaction of $530,573.04. Following the completion of the sale, the insider directly owned 1,247,447 shares of the company's stock, valued at $17,576,528.23. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 882,649 shares of company stock valued at $15,773,760. 33.50% of the stock is owned by insiders.

ARS Pharmaceuticals Stock Performance

SPRY traded down $0.35 on Thursday, reaching $10.15. The company had a trading volume of 2,495,755 shares, compared to its average volume of 3,047,969. ARS Pharmaceuticals, Inc. has a 1 year low of $9.97 and a 1 year high of $18.90. The stock has a market capitalization of $1.00 billion, a PE ratio of -20.71 and a beta of 0.87. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $15.40 and a 200-day moving average price of $14.32.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its quarterly 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). ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. The company had revenue of $15.72 million during the quarter, compared to analysts' expectations of $12.92 million. As a group, research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Analyst Ratings Changes

SPRY has been the subject of several research reports. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Roth Capital assumed coverage on shares of ARS Pharmaceuticals in a research note on Thursday, September 4th. They set a "buy" rating and a $40.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $32.50.

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.