Bank of New York Mellon Corp Purchases 69,394 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Bank of New York Mellon Corp grew its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 99.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,285 shares of the company’s stock after buying an additional 69,394 shares during the period. Bank of New York Mellon Corp owned 0.14% of ARS Pharmaceuticals worth $1,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SPRY. Vanguard Group Inc. boosted 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 purchasing an additional 779,969 shares during the period. ClariVest Asset Management LLC bought a new position in ARS Pharmaceuticals in the 1st quarter worth approximately $2,790,000. SG Americas Securities LLC grew its stake in ARS Pharmaceuticals by 861.5% in the 2nd 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 in the last quarter. GSA Capital Partners LLP raised its holdings in ARS Pharmaceuticals by 11.7% during the 1st quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock valued at $1,317,000 after acquiring an additional 13,545 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of 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 acquiring an additional 229,988 shares in the last quarter. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Down 0.6 %

SPRY stock opened at $14.77 on Friday. ARS Pharmaceuticals, Inc. has a 1-year low of $2.75 and a 1-year high of $16.50. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -28.40 and a beta of 0.90. The company’s 50 day moving average is $11.96 and its 200 day moving average is $10.01.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SPRY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, Leerink Partners upped their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.00.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $9.62, for a total value of $962,000.00. Following the completion of the transaction, the insider now directly owns 1,496,494 shares in the company, valued at approximately $14,396,272.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now directly owns 5,693 shares of the company’s stock, valued at $79,702. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $9.62, for a total value of $962,000.00. Following the completion of the sale, the insider now directly owns 1,496,494 shares of the company’s stock, valued at approximately $14,396,272.28. The disclosure for this sale can be found here. Insiders have sold 1,043,395 shares of company stock worth $13,650,032 over the last 90 days. Corporate insiders own 40.10% of the company’s stock.

About ARS Pharmaceuticals

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.