ARS Pharmaceuticals, Inc. $SPRY Shares Sold by Eversept Partners LP

Eversept Partners LP cut its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 45.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,235 shares of the company’s stock after selling 115,358 shares during the period. Eversept Partners LP owned approximately 0.14% of ARS Pharmaceuticals worth $1,094,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of ARS Pharmaceuticals by 1,075.3% during the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock worth $234,000 after buying an additional 16,969 shares during the last quarter. AQR Capital Management LLC acquired a new position in ARS Pharmaceuticals in the first quarter valued at approximately $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in ARS Pharmaceuticals by 13.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock worth $3,520,000 after acquiring an additional 32,526 shares during the period. JPMorgan Chase & Co. grew its position in ARS Pharmaceuticals by 7.3% in the second quarter. JPMorgan Chase & Co. now owns 34,560 shares of the company’s stock worth $603,000 after acquiring an additional 2,357 shares during the period. Finally, Legal & General Group Plc grew its position in ARS Pharmaceuticals by 55.1% in the second quarter. Legal & General Group Plc now owns 54,825 shares of the company’s stock worth $957,000 after acquiring an additional 19,484 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY opened at $5.76 on Tuesday. ARS Pharmaceuticals, Inc. has a fifty-two week low of $5.62 and a fifty-two week high of $18.63. 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 company has a 50 day moving average price of $8.36 and a 200 day moving average price of $8.81. The stock has a market capitalization of $571.97 million, a P/E ratio of -2.87 and a beta of 0.95.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results 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 firm had revenue of $22.68 million during the quarter, compared to analysts’ expectations of $22.20 million. Equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of the business’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 sale, the insider owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their position. 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 stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the transaction, the insider directly owned 12,176 shares in the company, valued at approximately $121,760. The trade was a 67.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 33.80% of the company’s stock.

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.