10,230 Shares in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,230 shares of the company’s stock, valued at approximately $87,000.

Several other institutional investors also recently added to or reduced their stakes in SPRY. Vanguard Group Inc. raised its stake in ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after purchasing an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in shares of ARS Pharmaceuticals during the first quarter valued at about $2,790,000. SG Americas Securities LLC lifted its stake in shares of ARS Pharmaceuticals by 861.5% in the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after buying an additional 99,986 shares during the period. GSA Capital Partners LLP grew its position in ARS Pharmaceuticals by 11.7% during the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock worth $1,317,000 after buying an additional 13,545 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in ARS Pharmaceuticals by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after acquiring an additional 229,988 shares during the period. 68.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SPRY shares. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Monday. Finally, Leerink Partners lifted their target price on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Four analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.75.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $12.95 on Tuesday. ARS Pharmaceuticals, Inc. has a 52-week low of $2.55 and a 52-week high of $16.50. The stock has a fifty day moving average price of $11.75 and a two-hundred day moving average price of $9.91. The firm has a market capitalization of $1.25 billion, a P/E ratio of -24.90 and a beta of 0.90.

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

Insider Activity

In related news, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer now directly owns 13,199 shares of the company’s stock, valued at approximately $211,184. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total transaction of $962,000.00. Following the transaction, the insider now directly owns 1,496,494 shares in the company, valued at $14,396,272.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer now directly owns 13,199 shares of the company’s stock, valued at approximately $211,184. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 933,395 shares of company stock worth $12,217,032. Insiders own 40.10% of the company’s stock.

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.