Wellington Management Group LLP Sells 31,476 Shares of ARS Pharmaceuticals, Inc. $SPRY

Key Points

• Wellington Management Group LLP reduced its stake in ARS Pharmaceuticals by 19.3%, now holding approximately 0.13% of the company worth $1.66 million after selling 31,476 shares.
• Despite the sell-off by Wellington, other institutional investors like JPMorgan Chase and Wells Fargo increased their holdings in ARS Pharmaceuticals in the fourth quarter, signifying mixed investor sentiment.
• ARS Pharmaceuticals faced a 9.6% decline in stock price, as reported last Friday, with shares trading at $11.62, amid a negative earnings report that also missed analysts' expectations.

Wellington Management Group LLP lowered its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 19.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,776 shares of the company's stock after selling 31,476 shares during the period. Wellington Management Group LLP owned approximately 0.13% of ARS Pharmaceuticals worth $1,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in ARS Pharmaceuticals by 73.6% in the fourth quarter. JPMorgan Chase & Co. now owns 31,112 shares of the company's stock worth $328,000 after purchasing an additional 13,190 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in ARS Pharmaceuticals by 47.1% in the fourth quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock worth $440,000 after purchasing an additional 13,361 shares during the last quarter. Barclays PLC boosted its holdings in ARS Pharmaceuticals by 41.7% in the fourth quarter. Barclays PLC now owns 158,180 shares of the company's stock worth $1,669,000 after purchasing an additional 46,514 shares during the last quarter. Mariner LLC boosted its holdings in ARS Pharmaceuticals by 5.8% in the fourth quarter. Mariner LLC now owns 35,908 shares of the company's stock worth $379,000 after purchasing an additional 1,972 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in ARS Pharmaceuticals by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 196,458 shares of the company's stock worth $2,073,000 after purchasing an additional 4,010 shares during the last quarter. Institutional investors own 68.16% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $31.00.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $16.00, for a total transaction of $240,000.00. Following the transaction, the insider owned 7,696 shares in the company, valued at $123,136. This trade represents a 66.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sarina Tanimoto sold 37,656 shares of ARS Pharmaceuticals stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $14.09, for a total transaction of $530,573.04. Following the transaction, the insider owned 1,247,447 shares in the company, valued at $17,576,528.23. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 882,649 shares of company stock worth $15,773,760. Insiders own 33.50% of the company's stock.

ARS Pharmaceuticals Trading Down 9.6%

Shares of ARS Pharmaceuticals stock opened at $11.62 on Friday. The company's fifty day simple moving average is $16.55 and its 200-day simple moving average is $14.40. The stock has a market capitalization of $1.15 billion, a PE ratio of -23.71 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 1-year low of $10.00 and a 1-year high of $18.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.05). The business had revenue of $15.72 million for the quarter, compared to analysts' expectations of $12.92 million. ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%. As a group, equities 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.

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