HighTower Advisors LLC Reduces Stock Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

HighTower Advisors LLC cut its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 4.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,110 shares of the company’s stock after selling 1,200 shares during the quarter. HighTower Advisors LLC’s holdings in ARS Pharmaceuticals were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of ARS Pharmaceuticals in the 3rd quarter worth approximately $239,000. Charles Schwab Investment Management Inc. lifted its stake in ARS Pharmaceuticals by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,947 shares of the company’s stock worth $6,147,000 after acquiring an additional 8,417 shares during the period. The Manufacturers Life Insurance Company lifted its stake in ARS Pharmaceuticals by 121.1% in the third quarter. The Manufacturers Life Insurance Company now owns 46,854 shares of the company’s stock worth $679,000 after acquiring an additional 25,658 shares during the period. 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 valued at $3,401,000 after acquiring an additional 207,456 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in ARS Pharmaceuticals by 78.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after purchasing an additional 288,021 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

SPRY stock opened at $13.05 on Thursday. The firm has a 50 day moving average price of $12.12 and a 200-day moving average price of $13.09. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -25.59 and a beta of 1.03.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million for the quarter, compared to the consensus estimate of $15.46 million. As a group, sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Scotiabank assumed coverage on ARS Pharmaceuticals in a research report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective on the stock. Raymond James increased their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 14th. Oppenheimer began coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 price target on the stock. Finally, Leerink Partners increased their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ARS Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $31.00.

Insider Transactions at ARS Pharmaceuticals

In other news, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares in the company, valued at $2,589,359.26. The trade was a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 7,696 shares in the company, valued at approximately $107,744. The trade was a 56.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 159,600 shares of company stock valued at $1,866,516 in the last quarter. 40.10% of the stock is owned by insiders.

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.