ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stake Lowered by Nextech Invest Ltd.

Nextech Invest Ltd. decreased its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 936,729 shares of the company’s stock after selling 176,300 shares during the period. ARS Pharmaceuticals makes up 1.6% of Nextech Invest Ltd.’s portfolio, making the stock its 12th biggest position. Nextech Invest Ltd. owned about 0.96% of ARS Pharmaceuticals worth $9,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Alliancebernstein L.P. grew its stake in ARS Pharmaceuticals by 5,168.4% during the fourth quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock worth $40,942,000 after buying an additional 3,807,074 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of ARS Pharmaceuticals by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock valued at $36,555,000 after buying an additional 115,656 shares during the period. Alyeska Investment Group L.P. raised its stake in shares of ARS Pharmaceuticals by 903.0% in the 4th 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 period. Geode Capital Management LLC grew its stake in shares of ARS Pharmaceuticals by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company’s stock worth $13,066,000 after acquiring an additional 3,351 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of ARS Pharmaceuticals by 93.0% during 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 during the last quarter. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Up 0.5%

Shares of SPRY stock opened at $13.35 on Wednesday. ARS Pharmaceuticals, Inc. has a 12-month low of $7.55 and a 12-month high of $18.51. The stock has a market capitalization of $1.31 billion, a P/E ratio of -26.18 and a beta of 0.84. The firm’s 50 day moving average is $13.25 and its 200 day moving average is $12.92.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SPRY shares. Scotiabank assumed coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price target for the company. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Raymond James raised 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. Finally, Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ARS Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $31.00.

Insider Buying and Selling

In other ARS Pharmaceuticals news, Director Laura Shawver sold 49,600 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total transaction of $556,016.00. Following the sale, the director now directly owns 210,346 shares in the company, valued at approximately $2,357,978.66. The trade was a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, March 20th. The shares were 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. The trade was a 56.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,602 shares of company stock valued at $1,311,041. 40.10% of the stock is 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.