Levin Capital Strategies L.P. Sells 194,945 Shares of ARS Pharmaceuticals, Inc. $SPRY

Levin Capital Strategies L.P. reduced its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 26.1% in the 1st quarter, HoldingsChannel reports. The firm owned 552,561 shares of the company’s stock after selling 194,945 shares during the period. Levin Capital Strategies L.P.’s holdings in ARS Pharmaceuticals were worth $4,437,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPRY. Torren Management LLC bought a new stake in ARS Pharmaceuticals in the fourth quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. raised its stake in ARS Pharmaceuticals by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after acquiring an additional 982 shares during the period. Bessemer Group Inc. raised its stake in ARS Pharmaceuticals by 3,102.1% in the 1st quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock valued at $61,000 after acquiring an additional 7,290 shares during the period. Osterweis Capital Management Inc. bought a new stake in ARS Pharmaceuticals in the 4th quarter valued at $65,000. Finally, Russell Investments Group Ltd. lifted its holdings in ARS Pharmaceuticals by 197.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after purchasing an additional 4,427 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $6.06 on Thursday. The firm has a market cap of $601.76 million, a P/E ratio of -3.01 and a beta of 0.95. The business’s 50 day moving average is $8.46 and its 200-day moving average is $8.93. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. ARS Pharmaceuticals, Inc. has a 1-year low of $6.06 and a 1-year high of $18.63.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. The firm had revenue of $22.68 million during the quarter, compared to the consensus estimate of $22.20 million. Equities research analysts predict that ARS Pharmaceuticals, Inc. will post -1.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald lifted their price objective on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Weiss Ratings raised shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Northland Securities assumed coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 target price for the company. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Leerink Partners reduced their target price on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $28.20.

Insiders Place Their Bets

In other news, insider Alexander A. Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $33,550.00. Following the completion of the sale, the insider owned 90,910 shares of the company’s stock, valued at approximately $909,100. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider directly owned 12,176 shares of the company’s stock, valued at approximately $121,760. The trade was a 67.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by company 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.