HighTower Advisors LLC Decreases Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

HighTower Advisors LLC trimmed its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in ARS Pharmaceuticals in the fourth quarter valued at about $6,576,000. Peregrine Capital Management LLC bought a new position in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $4,469,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of ARS Pharmaceuticals by 78.9% in the third 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 purchased a new position in shares of ARS Pharmaceuticals in the third quarter worth approximately $3,915,000. Finally, Wexford Capital LP bought a new position in ARS Pharmaceuticals in the third quarter worth approximately $3,601,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Shawver sold 50,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.10, for a total value of $555,000.00. Following the transaction, the director now directly owns 210,346 shares of the company’s stock, valued at approximately $2,334,840.60. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,600 shares of company stock worth $1,866,516. 40.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

ARS Pharmaceuticals Stock Up 4.2 %

Shares of ARS Pharmaceuticals stock opened at $13.05 on Thursday. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 week high of $18.51. The stock’s 50-day simple moving average is $12.12 and its 200-day simple moving average is $13.09. The company 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 results on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.56. The business had revenue of $86.58 million during the quarter, compared to the consensus estimate of $15.46 million. On average, equities analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

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.