Bernard Wealth Management Corp. Invests $27,000 in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Bernard Wealth Management Corp. purchased a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,520 shares of the company’s stock, valued at approximately $27,000.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of ARS Pharmaceuticals by 93.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company’s stock worth $3,631,000 after purchasing an additional 165,950 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of ARS Pharmaceuticals by 47.1% during the fourth quarter. Wells Fargo & Company MN now owns 41,701 shares of the company’s stock worth $440,000 after purchasing an additional 13,361 shares during the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth approximately $4,469,000. Vanguard Group Inc. raised its stake in shares of ARS Pharmaceuticals by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock worth $36,555,000 after purchasing an additional 115,656 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of ARS Pharmaceuticals by 12.9% during the fourth quarter. MetLife Investment Management LLC now owns 33,086 shares of the company’s stock worth $349,000 after purchasing an additional 3,769 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Up 3.2%

Shares of SPRY stock opened at $14.98 on Tuesday. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The stock has a market cap of $1.47 billion, a P/E ratio of -29.37 and a beta of 0.84. The business has a fifty day simple moving average of $13.67 and a 200-day simple moving average of $12.81.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). The firm had revenue of $7.97 million during the quarter, compared to analysts’ expectations of $7.48 million. On average, sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Wall Street Analyst Weigh In

SPRY has been the subject of several analyst reports. Wall Street Zen cut ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Oppenheimer began coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Scotiabank began coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.00.

Insider Activity

In other news, Director Laura Shawver sold 49,600 shares of the firm’s 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 completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, Director Brent L. Saunders sold 120,000 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $14.25, for a total value of $1,710,000.00. The disclosure for this sale can be found here. Insiders sold a total of 382,571 shares of company stock worth $5,177,904 over the last 90 days. 33.50% of the stock is currently owned by corporate insiders.

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.