Verition Fund Management LLC Trims Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Verition Fund Management LLC lowered its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 61.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,463 shares of the company’s stock after selling 16,462 shares during the quarter. Verition Fund Management LLC’s holdings in ARS Pharmaceuticals were worth $152,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPRY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in ARS Pharmaceuticals by 766.1% in the 3rd 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 buying an additional 207,456 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of ARS Pharmaceuticals by 121.1% in the third quarter. The Manufacturers Life Insurance Company now owns 46,854 shares of the company’s stock worth $679,000 after acquiring an additional 25,658 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in ARS Pharmaceuticals by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,947 shares of the company’s stock valued at $6,147,000 after purchasing an additional 8,417 shares during the period. Intech Investment Management LLC acquired a new position in ARS Pharmaceuticals during the third quarter worth approximately $239,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in ARS Pharmaceuticals during the third quarter worth approximately $1,120,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the completion of the sale, the insider now owns 1,298,499 shares in the company, valued at $19,321,665.12. This trade represents a 7.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Dorsey sold 25,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $12.30, for a total value of $307,500.00. Following the sale, the chief operating officer now owns 6,024 shares in the company, valued at $74,095.20. This represents a 80.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,168,058 shares of company stock worth $18,342,686. 40.10% of the stock is currently owned by corporate insiders.

ARS Pharmaceuticals Price Performance

NASDAQ:SPRY opened at $11.89 on Tuesday. The business’s 50-day moving average is $14.58 and its two-hundred day moving average is $12.41. The firm has a market capitalization of $1.15 billion, a PE ratio of -23.30 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a 12 month low of $5.02 and a 12 month high of $18.51.

Analyst Upgrades and Downgrades

SPRY has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Leerink Partners upped their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Finally, William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target 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.