Nicholas Investment Partners LP Trims Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Nicholas Investment Partners LP cut its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,018 shares of the company's stock after selling 29,753 shares during the period. Nicholas Investment Partners LP owned about 0.18% of ARS Pharmaceuticals worth $1,815,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SPRY. Allspring Global Investments Holdings LLC raised its position in ARS Pharmaceuticals by 93.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company's stock valued at $3,631,000 after purchasing an additional 165,950 shares in the last quarter. Wells Fargo & Company MN increased its holdings in ARS Pharmaceuticals by 47.1% during the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock valued at $440,000 after purchasing an additional 13,361 shares during the period. Peregrine Capital Management LLC purchased a new position in ARS Pharmaceuticals during the 4th quarter valued at about $4,469,000. Vanguard Group Inc. increased its holdings in ARS Pharmaceuticals by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock valued at $36,555,000 after purchasing an additional 115,656 shares during the period. Finally, MetLife Investment Management LLC boosted its position in ARS Pharmaceuticals by 12.9% during the 4th quarter. MetLife Investment Management LLC now owns 33,086 shares of the company's stock valued at $349,000 after acquiring an additional 3,769 shares in the last quarter. 68.16% of the stock is owned by institutional investors.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 49,600 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $11.21, for a total transaction of $556,016.00. Following the completion of the transaction, the director now owns 210,346 shares in the company, valued at $2,357,978.66. This represents a 19.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Karas sold 10,000 shares of the company'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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 109,602 shares of company stock valued at $1,311,041. 33.50% of the stock is owned by insiders.

ARS Pharmaceuticals Stock Performance

NASDAQ SPRY traded up $0.12 during trading on Monday, hitting $13.72. The stock had a trading volume of 266,710 shares, compared to its average volume of 1,229,167. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -26.86 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a one year low of $7.55 and a one year high of $18.51. The stock has a 50 day simple moving average of $13.34 and a 200 day simple moving average of $12.86.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting analysts' consensus estimates of ($0.35). The business had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.48 million. On average, sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SPRY shares. William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Scotiabank initiated coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price target on the stock. Finally, Oppenheimer initiated coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an "outperform" rating and a $40.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $31.00.

ARS Pharmaceuticals Company 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.