Harbour Capital Advisors LLC Purchases New Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Harbour Capital Advisors LLC acquired a new position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,650 shares of the company’s stock, valued at approximately $384,000.

A number of other large investors have also added to or reduced their stakes in SPRY. Alliancebernstein L.P. grew its holdings in shares of ARS Pharmaceuticals by 5,168.4% in the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock valued at $40,942,000 after purchasing an additional 3,807,074 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in ARS Pharmaceuticals by 903.0% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company’s stock valued at $13,227,000 after purchasing an additional 1,128,724 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of ARS Pharmaceuticals in the 4th quarter worth $6,576,000. Millennium Management LLC grew its stake in shares of ARS Pharmaceuticals by 93.0% in the 4th quarter. Millennium Management LLC now owns 939,278 shares of the company’s stock worth $9,909,000 after buying an additional 452,532 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of ARS Pharmaceuticals by 1,552.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 448,669 shares of the company’s stock worth $5,644,000 after buying an additional 421,511 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.

Insider Buying and Selling

In other news, Director Laura Shawver sold 50,002 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $12.30, for a total transaction of $615,024.60. Following the transaction, the director now directly owns 210,346 shares of the company’s stock, valued at approximately $2,587,255.80. This trade represents a 19.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the sale, the insider now directly owns 89,613 shares of the company’s stock, valued at $1,263,543.30. This represents a 53.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 337,971 shares of company stock valued at $4,721,888. Insiders own 33.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Finally, Scotiabank assumed coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 target price 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 stock. According to data from MarketBeat.com, ARS Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $16.78 on Wednesday. The stock has a market cap of $1.65 billion, a PE ratio of -104.87 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a 12 month low of $7.55 and a 12 month high of $18.51. The company has a 50-day moving average price of $14.45 and a 200 day moving average price of $12.92. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). The business had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.48 million. ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. Equities research analysts anticipate 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.