Janney Montgomery Scott LLC Cuts Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Janney Montgomery Scott LLC lessened its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,158 shares of the company’s stock after selling 2,000 shares during the period. Janney Montgomery Scott LLC’s holdings in ARS Pharmaceuticals were worth $287,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. First Turn Management LLC bought a new position in shares of ARS Pharmaceuticals during the 3rd quarter worth $8,603,000. Jacobs Levy Equity Management Inc. lifted its holdings in ARS Pharmaceuticals by 78.9% during the third 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 last quarter. Miura Global Management LLC bought a new position in ARS Pharmaceuticals during the third quarter worth about $3,915,000. Wexford Capital LP bought a new position in ARS Pharmaceuticals during the third quarter worth about $3,601,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 purchasing an additional 207,456 shares in the last quarter. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Price Performance

NASDAQ SPRY opened at $11.55 on Wednesday. The company’s 50 day simple moving average is $12.24 and its two-hundred day simple moving average is $13.19. ARS Pharmaceuticals, Inc. has a 1 year low of $6.70 and a 1 year high of $18.51. The stock has a market capitalization of $1.12 billion, a PE ratio of -22.65 and a beta of 0.99.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares of the company’s stock, valued at approximately $1,962,508.20. The trade was a 15.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares of the company’s stock, valued at $2,589,359.26. This trade represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 617,102 shares of company stock valued at $7,935,840. 40.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James raised their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Oppenheimer assumed coverage on ARS Pharmaceuticals in a report on Monday. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Leerink Partners lifted their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ARS Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $28.80.

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.