Eversept Partners LP Reduces Position in ARS Pharmaceuticals, Inc. $SPRY

Eversept Partners LP trimmed its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 74.2% during the 4th quarter, HoldingsChannel reports. The firm owned 251,593 shares of the company’s stock after selling 724,918 shares during the period. Eversept Partners LP’s holdings in ARS Pharmaceuticals were worth $2,931,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SPRY. Rubric Capital Management LP boosted its position in ARS Pharmaceuticals by 247.5% in the third quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock worth $45,225,000 after purchasing an additional 3,205,122 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of ARS Pharmaceuticals in the second quarter worth about $30,154,000. Casdin Capital LLC bought a new position in shares of ARS Pharmaceuticals in the third quarter worth about $16,080,000. UBS Group AG raised its stake in shares of ARS Pharmaceuticals by 235.0% in the fourth quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock worth $25,757,000 after buying an additional 1,550,980 shares during the period. Finally, Bamco Inc. NY raised its stake in shares of ARS Pharmaceuticals by 3,071.3% in the third quarter. Bamco Inc. NY now owns 1,268,532 shares of the company’s stock worth $12,749,000 after buying an additional 1,228,532 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ARS Pharmaceuticals news, insider Alexander A. Fitzpatrick sold 3,355 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the completion of the sale, the insider directly owned 90,910 shares in the company, valued at approximately $909,100. This represents a 3.56% decrease in their position. The sale 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 company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the sale, the insider owned 12,176 shares of the company’s stock, valued at $121,760. This represents a 67.25% decrease in their ownership of the stock. 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 owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SPRY shares. Leerink Partners set a $26.00 target price on ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Cantor Fitzgerald lifted their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Northland Securities started coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price objective on the stock. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.60.

ARS Pharmaceuticals Price Performance

SPRY opened at $9.90 on Thursday. The business has a fifty day moving average of $8.51 and a 200 day moving average of $9.34. ARS Pharmaceuticals, Inc. has a 52-week low of $6.66 and a 52-week high of $18.90. The company has a quick ratio of 4.77, a current ratio of 4.94 and a debt-to-equity ratio of 2.79. The stock has a market cap of $983.07 million, a P/E ratio of -4.93 and a beta of 0.94.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.20 million. As a group, sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -1.89 EPS 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.