Wellington Management Group LLP Buys 45,452 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Wellington Management Group LLP raised its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 38.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 162,335 shares of the company’s stock after acquiring an additional 45,452 shares during the quarter. Wellington Management Group LLP owned approximately 0.17% of ARS Pharmaceuticals worth $2,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Turn Management LLC bought a new stake in ARS Pharmaceuticals during the third quarter worth about $8,603,000. Jacobs Levy Equity Management Inc. grew its stake in shares of ARS Pharmaceuticals by 78.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after buying an additional 288,021 shares during the last quarter. Miura Global Management LLC bought a new position in ARS Pharmaceuticals during the 3rd quarter valued at approximately $3,915,000. Wexford Capital LP purchased a new position in ARS Pharmaceuticals during the third quarter valued at $3,601,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ARS Pharmaceuticals by 766.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock worth $3,401,000 after acquiring an additional 207,456 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ:SPRY opened at $10.96 on Thursday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -21.49 and a beta of 0.88. The business has a 50-day simple moving average of $14.49 and a two-hundred day simple moving average of $12.42. ARS Pharmaceuticals, Inc. has a fifty-two week low of $5.02 and a fifty-two week high of $18.51.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, COO Brian Dorsey sold 25,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $12.30, for a total value of $307,500.00. Following the transaction, the chief operating officer now owns 6,024 shares of the company’s stock, valued at approximately $74,095.20. This represents a 80.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Justin Chakma sold 27,272 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.06, for a total value of $328,900.32. Following the completion of the transaction, the insider now directly owns 136,380 shares in the company, valued at $1,644,742.80. The trade was a 16.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,158,058 shares of company stock worth $18,202,686 over the last three months. 40.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners lifted 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, September 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.00.

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.