Creek Drive Management Group LLC Makes New $3.45 Million Investment in ARS Pharmaceuticals, Inc. $SPRY

Creek Drive Management Group LLC purchased a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 295,863 shares of the company’s stock, valued at approximately $3,447,000. ARS Pharmaceuticals accounts for approximately 2.4% of Creek Drive Management Group LLC’s holdings, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPRY. Rubric Capital Management LP lifted its position in ARS Pharmaceuticals by 37.8% in the 4th quarter. Rubric Capital Management LP now owns 6,200,000 shares of the company’s stock valued at $72,230,000 after acquiring an additional 1,700,000 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of ARS Pharmaceuticals by 14.8% in the fourth quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after purchasing an additional 459,027 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of ARS Pharmaceuticals by 7.3% in the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after purchasing an additional 237,630 shares in the last quarter. State Street Corp boosted its position in shares of ARS Pharmaceuticals by 11.3% during the fourth quarter. State Street Corp now owns 3,223,581 shares of the company’s stock worth $37,555,000 after buying an additional 328,325 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $36,912,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY opened at $9.65 on Friday. The stock has a 50 day moving average price of $8.57 and a 200 day moving average price of $9.35. ARS Pharmaceuticals, Inc. has a 52 week low of $6.66 and a 52 week high of $18.90. The company has a debt-to-equity ratio of 2.79, a quick ratio of 4.77 and a current ratio of 4.94. The stock has a market capitalization of $958.25 million, a PE ratio of -4.80 and a beta of 0.94.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). The company had revenue of $22.68 million during the quarter, compared to the consensus estimate of $22.20 million. ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. Analysts predict that ARS Pharmaceuticals, Inc. will post -1.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPRY has been the subject of a number of research reports. Wall Street Zen upgraded ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Cantor Fitzgerald upped their price target on 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 ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Northland Securities started coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $28.60.

Insider Buying and Selling at ARS Pharmaceuticals

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 shares were sold at an average price of $10.00, for a total transaction of $33,550.00. Following the sale, the insider directly owned 90,910 shares of the company’s stock, valued at approximately $909,100. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction of $250,000.00. Following the sale, the insider directly owned 12,176 shares in the company, valued at $121,760. This trade represents a 67.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 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.