Invesco Ltd. Has $211,000 Stock Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Invesco Ltd. lessened its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 84.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,988 shares of the company's stock after selling 105,623 shares during the period. Invesco Ltd.'s holdings in ARS Pharmaceuticals were worth $211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in ARS Pharmaceuticals by 93.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company's stock worth $3,631,000 after acquiring an additional 165,950 shares in the last quarter. Wells Fargo & Company MN raised its stake in ARS Pharmaceuticals by 47.1% during the fourth quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock valued at $440,000 after buying an additional 13,361 shares in the last quarter. Peregrine Capital Management LLC bought a new position in ARS Pharmaceuticals during the 4th quarter worth approximately $4,469,000. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 115,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of ARS Pharmaceuticals by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 427,477 shares of the company's stock valued at $4,510,000 after acquiring an additional 3,530 shares during the last quarter. Institutional investors own 68.16% of the company's stock.

Insider Activity at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 7,696 shares in the company, valued at $107,744. This trade represents a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura Shawver sold 50,002 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $12.30, for a total value of $615,024.60. Following the sale, the director now directly owns 210,346 shares in the company, valued at approximately $2,587,255.80. The trade was a 19.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,602 shares of company stock worth $1,311,041 over the last ninety days. 40.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPRY. William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Raymond James raised their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, January 14th. Leerink Partners boosted their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Monday, January 13th. Oppenheimer started coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an "outperform" rating and a $40.00 target price on the stock. Finally, Scotiabank assumed coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $31.00.

ARS Pharmaceuticals Stock Performance

Shares of SPRY traded down $0.53 during mid-day trading on Wednesday, reaching $13.49. 1,470,077 shares of the company's stock traded hands, compared to its average volume of 1,182,939. The business's 50-day moving average price is $12.96 and its 200-day moving average price is $13.01. The stock has a market capitalization of $1.32 billion, a P/E ratio of -26.45 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a 12 month low of $7.55 and a 12 month high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to analyst estimates of $15.46 million. Equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

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.