Panoramic Capital LLC Invests $483,000 in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Panoramic Capital LLC acquired a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 45,806 shares of the company's stock, valued at approximately $483,000.

Several other institutional investors also recently modified their holdings of the business. KLP Kapitalforvaltning AS acquired a new position in ARS Pharmaceuticals in the fourth quarter valued at $73,000. BNP Paribas Financial Markets bought a new stake in ARS Pharmaceuticals in the 4th quarter worth about $75,000. Compass Capital Corp MA ADV bought a new stake in ARS Pharmaceuticals in the 4th quarter worth about $106,000. Teacher Retirement System of Texas bought a new position in shares of ARS Pharmaceuticals during the 4th quarter valued at approximately $122,000. Finally, Freestone Grove Partners LP bought a new position in shares of ARS Pharmaceuticals during the 4th quarter valued at approximately $132,000. Institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock traded up $1.41 during trading hours on Friday, reaching $13.60. The stock had a trading volume of 2,214,443 shares, compared to its average volume of 1,229,178. The stock has a market cap of $1.34 billion, a PE ratio of -26.67 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 week high of $18.51. The company has a fifty day simple moving average of $13.34 and a 200-day simple moving average of $12.89.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). The company had revenue of $7.97 million during the quarter, compared to analysts' expectations of $7.48 million. Research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on SPRY shares. Scotiabank started coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price target on the stock. Oppenheimer began coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They set an "outperform" rating and a $40.00 price objective on the stock. Finally, William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $31.00.

Insider Transactions at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 50,002 shares of ARS Pharmaceuticals stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $12.30, for a total transaction of $615,024.60. Following the completion of the transaction, the director now directly owns 210,346 shares of the company's stock, valued at $2,587,255.80. This trade represents a 19.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals 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 completion of the transaction, the insider now directly owns 7,696 shares of the company's stock, valued at $107,744. This trade represents a 56.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,602 shares of company stock valued at $1,311,041. 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.