Lisanti Capital Growth LLC Boosts Position in ARS Pharmaceuticals, Inc. $SPRY

Lisanti Capital Growth LLC grew its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 116.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,075 shares of the company’s stock after buying an additional 226,245 shares during the period. ARS Pharmaceuticals makes up about 2.0% of Lisanti Capital Growth LLC’s holdings, making the stock its 6th biggest holding. Lisanti Capital Growth LLC owned 0.43% of ARS Pharmaceuticals worth $7,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in shares of ARS Pharmaceuticals by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock valued at $49,349,000 after acquiring an additional 42,071 shares during the last quarter. Octagon Capital Advisors LP purchased a new stake in shares of ARS Pharmaceuticals in the 1st quarter worth about $7,862,000. Trexquant Investment LP boosted its position in shares of ARS Pharmaceuticals by 78.2% in the 1st quarter. Trexquant Investment LP now owns 100,769 shares of the company’s stock worth $1,268,000 after purchasing an additional 44,206 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in ARS Pharmaceuticals by 57.8% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 68,094 shares of the company’s stock worth $1,188,000 after purchasing an additional 24,950 shares in the last quarter. Finally, Harbour Capital Advisors LLC raised its holdings in ARS Pharmaceuticals by 102.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 57,950 shares of the company’s stock worth $971,000 after acquiring an additional 29,300 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Roth Capital started coverage on shares of ARS Pharmaceuticals in a research report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 target price for the company. Wall Street Zen downgraded ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Raymond James Financial set a $32.00 target price on ARS Pharmaceuticals in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, ARS Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $31.80.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 37,656 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total value of $530,573.04. Following the completion of the sale, the insider owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard E. Lowenthal sold 50,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $14.49, for a total transaction of $724,500.00. Following the transaction, the chief executive officer owned 1,196,494 shares in the company, valued at $17,337,198.06. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 112,500 shares of company stock worth $1,615,759 over the last quarter. Insiders own 33.50% of the company’s stock.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ:SPRY opened at $8.85 on Friday. The stock has a market capitalization of $874.65 million, a P/E ratio of -18.06 and a beta of 0.83. ARS Pharmaceuticals, Inc. has a 52 week low of $8.05 and a 52 week high of $18.90. The firm has a fifty day simple moving average of $9.97 and a two-hundred day simple moving average of $13.58. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.The company had revenue of $15.72 million during the quarter, compared to analysts’ expectations of $12.92 million. On average, analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal 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.