China Universal Asset Management Co. Ltd. Raises Stock Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

China Universal Asset Management Co. Ltd. boosted its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 63.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,645 shares of the company’s stock after purchasing an additional 7,262 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in ARS Pharmaceuticals were worth $270,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. J.W. Cole Advisors Inc. acquired a new stake in shares of ARS Pharmaceuticals during the first quarter worth approximately $142,000. Capstone Investment Advisors LLC acquired a new position in ARS Pharmaceuticals during the 1st quarter worth $739,000. GSA Capital Partners LLP raised its stake in shares of ARS Pharmaceuticals by 11.7% in the 1st quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock valued at $1,317,000 after purchasing an additional 13,545 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at about $119,000. Finally, ClariVest Asset Management LLC bought a new position in shares of ARS Pharmaceuticals during the first quarter worth about $2,790,000. 68.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now owns 5,693 shares in the company, valued at approximately $79,702. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $15.03, for a total transaction of $1,503,000.00. Following the transaction, the chief executive officer now directly owns 1,497,447 shares of the company’s stock, valued at approximately $22,506,628.41. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the sale, the insider now directly owns 5,693 shares of the company’s stock, valued at $79,702. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,055,895 shares of company stock worth $14,619,032 in the last ninety days. 40.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SPRY. Leerink Partners upped their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Four equities research 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 stock currently has a consensus rating of “Buy” and an average target price of $24.00.

ARS Pharmaceuticals Trading Down 5.9 %

Shares of NASDAQ SPRY opened at $14.27 on Thursday. ARS Pharmaceuticals, Inc. has a 12-month low of $3.38 and a 12-month high of $17.08. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -30.36 and a beta of 0.91. The stock’s 50 day simple moving average is $13.97 and its 200 day simple moving average is $11.15.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

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.