Trexquant Investment LP Buys 44,206 Shares of ARS Pharmaceuticals, Inc. $SPRY

Trexquant Investment LP boosted its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 78.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,769 shares of the company’s stock after acquiring an additional 44,206 shares during the quarter. Trexquant Investment LP owned approximately 0.10% of ARS Pharmaceuticals worth $1,268,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in ARS Pharmaceuticals by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock valued at $1,722,000 after purchasing an additional 917 shares during the period. Bank of New York Mellon Corp lifted its position in ARS Pharmaceuticals by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 132,213 shares of the company’s stock valued at $1,663,000 after purchasing an additional 1,975 shares during the period. Bernard Wealth Management Corp. acquired a new position in ARS Pharmaceuticals during the 4th quarter valued at about $27,000. Wealth Enhancement Advisory Services LLC lifted its position in ARS Pharmaceuticals by 4.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company’s stock valued at $636,000 after purchasing an additional 2,670 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in ARS Pharmaceuticals during the 1st quarter valued at about $37,000. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $10.07 on Friday. The company has a market cap of $995.22 million, a price-to-earnings ratio of -20.55 and a beta of 0.87. ARS Pharmaceuticals, Inc. has a 1-year low of $9.97 and a 1-year high of $18.90. The company’s fifty day simple moving average is $15.90 and its 200 day simple moving average is $14.35. The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.The company had revenue of $15.72 million for the quarter, compared to the consensus estimate of $12.92 million. On average, research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In other ARS Pharmaceuticals news, insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $16.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider directly owned 7,696 shares of the company’s stock, valued at $123,136. The trade was a 66.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard E. Lowenthal sold 50,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $14.49, for a total transaction of $724,500.00. Following the transaction, the chief executive officer directly owned 1,196,494 shares of the company’s stock, valued at approximately $17,337,198.06. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 882,649 shares of company stock valued at $15,773,760. 33.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPRY. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Roth Capital initiated coverage on shares of ARS Pharmaceuticals in a research report on Thursday. They issued a “buy” rating and a $40.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $32.50.

ARS Pharmaceuticals Company 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.