Tower Research Capital LLC TRC Buys 41,269 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Tower Research Capital LLC TRC grew its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Free Report) by 958.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,576 shares of the company's stock after purchasing an additional 41,269 shares during the period. Tower Research Capital LLC TRC's holdings in ARS Pharmaceuticals were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPRY. KLP Kapitalforvaltning AS acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at approximately $73,000. Compass Capital Corp MA ADV acquired a new position in ARS Pharmaceuticals during the fourth quarter worth $106,000. Teacher Retirement System of Texas acquired a new position in ARS Pharmaceuticals in the fourth quarter valued at about $122,000. Amica Mutual Insurance Co. acquired a new stake in shares of ARS Pharmaceuticals in the fourth quarter valued at $151,000. Finally, PEAK6 LLC bought a new stake in shares of ARS Pharmaceuticals during the fourth quarter valued at approximately $162,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Up 2.1 %

Shares of SPRY traded up $0.30 on Friday, hitting $14.46. The company's stock had a trading volume of 1,028,217 shares, compared to its average volume of 1,177,427. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -28.35 and a beta of 0.86. The firm's fifty day moving average price is $12.81 and its 200-day moving average price is $13.06. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million for the quarter, compared to analyst estimates of $15.46 million. As a group, equities analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an "outperform" rating in a research report on Monday, January 13th. Scotiabank began coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They issued a "sector outperform" rating and a $30.00 price objective on the stock. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They set an "outperform" rating and a $40.00 target price for the company. William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Raymond James increased their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 14th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, ARS Pharmaceuticals has a consensus rating of "Buy" and a consensus target price of $31.00.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, Director Laura Shawver sold 49,600 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $11.21, for a total value of $556,016.00. Following the completion of the sale, the director now owns 210,346 shares in the company, valued at $2,357,978.66. This trade represents a 19.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric Karas sold 10,000 shares of the business'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 in the company, valued at $107,744. This represents a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 159,602 shares of company stock valued at $1,926,541 over the last three months. Company insiders own 40.10% 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.