Wellington Management Group LLP Grows Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Wellington Management Group LLP grew its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 38.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,335 shares of the company’s stock after buying an additional 45,452 shares during the quarter. Wellington Management Group LLP’s holdings in ARS Pharmaceuticals were worth $2,354,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. First Turn Management LLC purchased a new stake in ARS Pharmaceuticals in the 3rd quarter worth approximately $8,603,000. Royce & Associates LP increased its stake in shares of ARS Pharmaceuticals by 7.1% in the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after purchasing an additional 45,755 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at $2,584,000. Bank of New York Mellon Corp lifted its stake in shares of ARS Pharmaceuticals by 99.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after buying an additional 69,394 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 period. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Down 6.8 %

Shares of SPRY stock opened at $10.96 on Thursday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -21.49 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. The stock’s 50-day moving average price is $14.49 and its 200-day moving average price is $12.42.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SPRY. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Leerink Partners increased their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Four 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 stock presently has a consensus rating of “Buy” and a consensus target price of $24.00.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, insider Justin Chakma sold 27,272 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.06, for a total value of $328,900.32. Following the completion of the transaction, the insider now directly owns 136,380 shares of the company’s stock, valued at approximately $1,644,742.80. This trade represents a 16.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $13.83, for a total transaction of $1,383,000.00. Following the completion of the sale, the chief executive officer now owns 1,346,494 shares in the company, valued at $18,622,012.02. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,158,058 shares of company stock worth $18,202,686 in the last quarter. 40.10% of the stock is owned by corporate insiders.

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.