Ra Capital Management, L.P. Buys 505,954 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Ra Capital Management, L.P. bought 505,954 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was bought at an average price of $9.79 per share, with a total value of $4,953,289.66. Following the transaction, the director now owns 9,958,073 shares in the company, valued at $97,489,534.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Monday, March 25th, Ra Capital Management, L.P. bought 437,600 shares of ARS Pharmaceuticals stock. The stock was bought at an average price of $9.06 per share, with a total value of $3,964,656.00.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY opened at $10.22 on Friday. The company has a 50-day moving average of $7.84 and a 200-day moving average of $5.83. The company has a market capitalization of $986.23 million, a price-to-earnings ratio of -17.93 and a beta of 0.78. ARS Pharmaceuticals, Inc. has a 52 week low of $2.55 and a 52 week high of $11.27.

Wall Street Analyst Weigh In

SPRY has been the subject of a number of research analyst reports. William Blair upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 20th. Leerink Partnrs upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and issued a $19.00 target price on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. Finally, SVB Leerink upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the company from $6.00 to $18.00 in a research note on Tuesday, March 5th.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in SPRY. Geode Capital Management LLC bought a new position in shares of ARS Pharmaceuticals during the 1st quarter worth about $2,627,000. Squarepoint Ops LLC acquired a new position in ARS Pharmaceuticals in the first quarter valued at about $84,000. State Street Corp boosted its position in ARS Pharmaceuticals by 50.4% in the first quarter. State Street Corp now owns 129,191 shares of the company’s stock valued at $841,000 after buying an additional 43,300 shares in the last quarter. Jane Street Group LLC acquired a new position in ARS Pharmaceuticals in the first quarter valued at about $895,000. Finally, Ameriprise Financial Inc. acquired a new position in ARS Pharmaceuticals in the first quarter valued at about $1,825,000. 68.16% of the stock is owned by institutional investors.

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.