Woodline Partners LP Increases Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Woodline Partners LP grew its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,119,283 shares of the company's stock after buying an additional 133,276 shares during the period. Woodline Partners LP owned 1.15% of ARS Pharmaceuticals worth $11,808,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in shares of ARS Pharmaceuticals during the 4th quarter valued at $73,000. BNP Paribas Financial Markets purchased a new stake in ARS Pharmaceuticals during the 4th quarter worth about $75,000. Compass Capital Corp MA ADV purchased a new stake in ARS Pharmaceuticals during the 4th quarter worth about $106,000. Teacher Retirement System of Texas purchased a new stake in ARS Pharmaceuticals during the 4th quarter worth about $122,000. Finally, Freestone Grove Partners LP purchased a new stake in ARS Pharmaceuticals during the 4th quarter worth about $132,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SPRY shares. Scotiabank started coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price objective on the stock. William Blair reissued an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Oppenheimer started coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They set an "outperform" rating and a $40.00 price objective on the stock. Finally, Wall Street Zen cut ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One equities research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.00.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY traded up $0.14 on Tuesday, hitting $15.12. The company's stock had a trading volume of 274,715 shares, compared to its average volume of 1,253,867. The company has a 50-day simple moving average of $13.67 and a 200 day simple moving average of $12.81. ARS Pharmaceuticals, Inc. has a 1 year low of $7.55 and a 1 year high of $18.51. The company has a market capitalization of $1.48 billion, a PE ratio of -29.65 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting the consensus estimate of ($0.35). The business had revenue of $7.97 million during the quarter, compared to analysts' expectations of $7.48 million. On average, equities research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now directly owns 7,696 shares of the company's stock, valued at approximately $107,744. This trade represents a 56.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura Shawver sold 49,600 shares of the firm's 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 transaction, the director now directly owns 210,346 shares in the company, valued at approximately $2,357,978.66. This represents a 19.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 382,571 shares of company stock valued at $5,177,904 in the last 90 days. Corporate insiders own 33.50% of the company's stock.

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.