Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 77,208 shares of the company’s stock, valued at approximately $1,120,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 779,969 shares during the period. Royce & Associates LP grew its holdings in ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after purchasing an additional 45,755 shares during the period. First Turn Management LLC bought a new position in ARS Pharmaceuticals during the third quarter valued at $8,603,000. ClariVest Asset Management LLC grew its holdings in ARS Pharmaceuticals by 5.4% during the second quarter. ClariVest Asset Management LLC now owns 287,596 shares of the company’s stock valued at $2,447,000 after purchasing an additional 14,640 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in 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.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $12.93, for a total transaction of $1,293,000.00. Following the sale, the chief executive officer now owns 1,398,499 shares in the company, valued at $18,082,592.07. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $18.04, for a total value of $9,533,346.24. Following the sale, the insider now owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 9.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 908,770 shares of company stock valued at $14,856,492. Company insiders own 40.10% of the company’s stock.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY opened at $14.53 on Thursday. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -28.49 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 52-week low of $4.65 and a 52-week high of $18.51. The stock has a fifty day moving average of $14.82 and a 200 day moving average of $11.97.

Analyst Upgrades and Downgrades

SPRY has been the subject of several research reports. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Finally, Leerink Partners raised their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $24.00.

ARS Pharmaceuticals 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.