XTX Topco Ltd Buys 17,429 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Key Points

• XTX Topco Ltd increased its stake in ARS Pharmaceuticals by 54.1%, now owning 49,647 shares valued at $625,000 as of its latest SEC filing.
• Wall Street analysts have downgraded ARS Pharmaceuticals from a "hold" to a "sell" rating, with a consensus target price of $31.00.
• Significant insider sales occurred, with CFO Kathleen D. Scott and major shareholder James E. Flynn selling shares totaling nearly $14 million in recent months.

XTX Topco Ltd lifted its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 54.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,647 shares of the company's stock after purchasing an additional 17,429 shares during the quarter. XTX Topco Ltd owned 0.05% of ARS Pharmaceuticals worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in ARS Pharmaceuticals by 7.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 368,556 shares of the company's stock worth $4,636,000 after buying an additional 24,385 shares during the last quarter. Wells Fargo & Company MN raised its position in ARS Pharmaceuticals by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock worth $440,000 after buying an additional 13,361 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in ARS Pharmaceuticals in the 1st quarter worth about $189,000. Vanguard Group Inc. raised its position in ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock worth $36,555,000 after buying an additional 115,656 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in ARS Pharmaceuticals by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company's stock worth $636,000 after buying an additional 2,670 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company's stock.

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 research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.00.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY traded down $0.15 during midday trading on Friday, hitting $17.50. 715,574 shares of the company's stock traded hands, compared to its average volume of 1,188,629. ARS Pharmaceuticals, Inc. has a 1 year low of $9.67 and a 1 year high of $18.90. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -109.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.74 and a current ratio of 11.00. The firm has a fifty day moving average of $16.71 and a 200 day moving average of $14.27.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, meeting the consensus estimate of ($0.35). ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. The firm had revenue of $7.97 million during the quarter, compared to analyst estimates of $7.48 million. On average, analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Insider Activity

In related news, Director Brent L. Saunders sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.25, for a total transaction of $1,710,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Karas sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $16.99, for a total value of $254,850.00. Following the transaction, the insider owned 10,315 shares of the company's stock, valued at approximately $175,251.85. This trade represents a 59.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,043,118 shares of company stock worth $18,024,863. Company insiders own 33.50% of the company's stock.

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.