Steward Partners Investment Advisory LLC Raises Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Steward Partners Investment Advisory LLC grew its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 47.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,050 shares of the company’s stock after acquiring an additional 12,200 shares during the period. Steward Partners Investment Advisory LLC’s holdings in ARS Pharmaceuticals were worth $401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in ARS Pharmaceuticals by 10.4% during the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock worth $29,718,000 after buying an additional 193,321 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ARS Pharmaceuticals by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock worth $17,909,000 after buying an additional 38,927 shares in the last quarter. Royce & Associates LP boosted 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 worth $10,026,000 after buying an additional 45,755 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after buying an additional 288,021 shares in the last quarter. Finally, First Turn Management LLC purchased a new stake in ARS Pharmaceuticals during the third quarter worth about $8,603,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Insider Activity

In other news, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares of the company’s stock, valued at $2,589,359.26. The trade was a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $11.67, for a total transaction of $1,167,000.00. Following the completion of the transaction, the insider now directly owns 1,098,499 shares of the company’s stock, valued at approximately $12,819,483.33. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,600 shares of company stock valued at $2,893,516 over the last 90 days. Insiders own 40.10% of the company’s stock.

ARS Pharmaceuticals Price Performance

NASDAQ:SPRY opened at $11.95 on Friday. The firm has a 50 day simple moving average of $11.93 and a 200-day simple moving average of $13.09. The firm has a market cap of $1.16 billion, a PE ratio of -23.43 and a beta of 1.04. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective on the stock. Leerink Partners lifted their target price on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Raymond James lifted their target price on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 14th. Scotiabank assumed coverage on shares of ARS Pharmaceuticals in a research report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price for the company. Finally, William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Five analysts have rated the stock with a buy rating and one has assigned 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 $31.00.

ARS Pharmaceuticals Company 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.