Rafferty Asset Management LLC Increases Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Rafferty Asset Management LLC raised its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 72.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,372 shares of the company’s stock after purchasing an additional 59,097 shares during the quarter. Rafferty Asset Management LLC’s holdings in ARS Pharmaceuticals were worth $1,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of ARS Pharmaceuticals by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock valued at $1,722,000 after purchasing an additional 917 shares during the period. Rhumbline Advisers increased its position in shares of ARS Pharmaceuticals by 2.9% during the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company’s stock worth $687,000 after acquiring an additional 1,824 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of ARS Pharmaceuticals by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $217,000 after acquiring an additional 1,962 shares during the period. Mariner LLC increased its position in shares of ARS Pharmaceuticals by 5.8% during the fourth quarter. Mariner LLC now owns 35,908 shares of the company’s stock worth $379,000 after acquiring an additional 1,972 shares during the period. Finally, LPL Financial LLC increased its position in shares of ARS Pharmaceuticals by 11.4% during the fourth quarter. LPL Financial LLC now owns 21,408 shares of the company’s stock worth $226,000 after acquiring an additional 2,190 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently 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 started coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective on the stock. Finally, Oppenheimer started coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $31.00.

Insider Activity at ARS Pharmaceuticals

In related news, Director Laura Shawver sold 49,600 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total value of $556,016.00. Following the transaction, the director now owns 210,346 shares of the company’s stock, valued at $2,357,978.66. This represents a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now directly owns 7,696 shares in the company, valued at $107,744. This trade represents a 56.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,602 shares of company stock valued at $1,311,041 over the last quarter. 33.50% of the stock is owned by insiders.

ARS Pharmaceuticals Trading Up 0.5%

ARS Pharmaceuticals stock opened at $14.33 on Wednesday. The firm has a market capitalization of $1.41 billion, a P/E ratio of -28.10 and a beta of 0.84. The stock’s fifty day simple moving average is $13.43 and its 200-day simple moving average is $12.87. ARS Pharmaceuticals, Inc. has a twelve month low of $7.55 and a twelve month high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Wednesday, May 14th. The company reported ($0.35) EPS for the quarter, meeting the consensus estimate of ($0.35). The business had revenue of $7.97 million during the quarter, compared to analysts’ expectations of $7.48 million. Sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share 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.