Los Angeles Capital Management LLC Makes New $231,000 Investment in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Los Angeles Capital Management LLC bought a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 27,120 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds have also recently bought and sold shares of SPRY. RA Capital Management L.P. increased its position in ARS Pharmaceuticals by 14.8% during the first quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock worth $110,999,000 after buying an additional 1,401,299 shares during the last quarter. Vanguard Group Inc. increased its position in ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after buying an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in ARS Pharmaceuticals during the first quarter worth $2,790,000. Jacobs Levy Equity Management Inc. increased its position in ARS Pharmaceuticals by 1,280.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock worth $2,838,000 after buying an additional 257,589 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in ARS Pharmaceuticals by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after buying an additional 229,988 shares during the last quarter. 68.16% of the stock is owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Up 5.3 %

SPRY stock opened at $13.30 on Monday. ARS Pharmaceuticals, Inc. has a twelve month low of $2.55 and a twelve month high of $16.50. The company has a market cap of $1.29 billion, a PE ratio of -25.58 and a beta of 0.90. The business’s 50-day simple moving average is $11.68 and its 200 day simple moving average is $9.88.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Wall Street Analyst Weigh In

SPRY has been the topic of several research analyst reports. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Leerink Partners raised their price target on ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Monday, September 9th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $22.75.

Insider Buying and Selling

In related news, Director Peter A. Thompson sold 83,695 shares of ARS Pharmaceuticals stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $13.00, for a total transaction of $1,088,035.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total transaction of $962,000.00. Following the sale, the insider now directly owns 1,496,494 shares of the company’s stock, valued at $14,396,272.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter A. Thompson sold 83,695 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $13.00, for a total value of $1,088,035.00. The disclosure for this sale can be found here. Insiders have sold a total of 933,395 shares of company stock valued at $12,217,032 over the last three months. 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.