UBS Group AG Purchases 1,550,980 Shares of ARS Pharmaceuticals, Inc. $SPRY

Key Points

• UBS Group AG sharply increased its stake in ARS Pharmaceuticals, buying 1,550,980 additional shares in the fourth quarter and lifting its holdings to 2.21 million shares, worth about $25.8 million.
• Several other institutional investors also expanded positions in SPRY, and institutions now own 68.16% of the company, signaling strong professional interest in the stock.
• ARS Pharmaceuticals reported quarterly earnings in line with expectations, with revenue topping estimates, while analysts currently rate the stock a Hold on average with a consensus price target of $28.25.

UBS Group AG boosted its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 235.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,210,866 shares of the company's stock after acquiring an additional 1,550,980 shares during the quarter. UBS Group AG owned 2.24% of ARS Pharmaceuticals worth $25,757,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SPRY. Rubric Capital Management LP increased its stake in ARS Pharmaceuticals by 247.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company's stock valued at $45,225,000 after acquiring an additional 3,205,122 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in ARS Pharmaceuticals in the second quarter valued at $30,154,000. Casdin Capital LLC bought a new position in ARS Pharmaceuticals in the third quarter valued at $16,080,000. Aberdeen Group plc increased its stake in ARS Pharmaceuticals by 106.1% in the third quarter. Aberdeen Group plc now owns 3,097,022 shares of the company's stock valued at $31,125,000 after acquiring an additional 1,594,447 shares during the last quarter. Finally, Bamco Inc. NY increased its stake in ARS Pharmaceuticals by 3,071.3% in the third quarter. Bamco Inc. NY now owns 1,268,532 shares of the company's stock valued at $12,749,000 after acquiring an additional 1,228,532 shares during the last quarter. Institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock opened at $8.74 on Monday. The company has a current ratio of 7.28, a quick ratio of 7.06 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average of $8.41 and a 200-day moving average of $9.35. The firm has a market cap of $867.88 million, a P/E ratio of -4.99 and a beta of 0.93. ARS Pharmaceuticals, Inc. has a 1-year low of $6.66 and a 1-year high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Monday, March 9th. The company reported ($0.42) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.42). The company had revenue of $28.09 million during the quarter, compared to analyst estimates of $25.58 million. ARS Pharmaceuticals had a negative net margin of 203.25% and a negative return on equity of 100.29%. Sell-side analysts expect that ARS Pharmaceuticals, Inc. will post -1.54 EPS for the current year.

Analyst Ratings Changes

SPRY has been the subject of several analyst reports. Leerink Partners set a $26.00 price target on shares of ARS Pharmaceuticals and gave the company an "outperform" rating in a research report on Tuesday, March 10th. Zacks Research upgraded shares of ARS Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 25th. Weiss Ratings lowered shares of ARS Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, April 24th. Finally, Northland Securities initiated coverage on shares of ARS Pharmaceuticals in a research report on Thursday, April 9th. They set an "outperform" rating and a $25.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.25.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.

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