SG Americas Securities LLC Cuts Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

SG Americas Securities LLC lessened its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 47.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,304 shares of the company’s stock after selling 53,288 shares during the quarter. SG Americas Securities LLC owned 0.06% of ARS Pharmaceuticals worth $845,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SPRY. Vanguard Group Inc. grew its stake in shares of ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after buying an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC bought a new position in ARS Pharmaceuticals during the 1st quarter worth approximately $2,790,000. GSA Capital Partners LLP increased its stake in ARS Pharmaceuticals by 11.7% in the 1st quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock worth $1,317,000 after purchasing an additional 13,545 shares during the period. Bank of New York Mellon Corp lifted its position in ARS Pharmaceuticals by 99.3% in the second quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after purchasing an additional 69,394 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of ARS Pharmaceuticals by 1,280.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after purchasing an additional 257,589 shares during the period. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Stock Up 4.4 %

NASDAQ:SPRY opened at $14.52 on Friday. ARS Pharmaceuticals, Inc. has a twelve month low of $3.35 and a twelve month high of $16.50. The stock has a market cap of $1.41 billion, a P/E ratio of -27.92 and a beta of 0.91. The firm’s fifty day simple moving average is $13.02 and its 200 day simple moving average is $10.60.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $2.00 million. On average, analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total value of $200,000.00. Following the completion of the transaction, the chief financial officer now owns 13,199 shares in the company, valued at $211,184. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Peter A. Thompson sold 407,700 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $13.56, for a total transaction of $5,528,412.00. Following the completion of the transaction, the director now directly owns 544,677 shares of the company’s stock, valued at $7,385,820.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kathleen D. Scott sold 12,500 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief financial officer now owns 13,199 shares in the company, valued at approximately $211,184. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,043,395 shares of company stock worth $14,071,032. Company insiders own 40.10% of the company’s stock.

Wall Street Analyst Weigh In

SPRY has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners upped their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $24.00.

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.