Connor Clark & Lunn Investment Management Ltd. Purchases 3,433 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Connor Clark & Lunn Investment Management Ltd. boosted its position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 4.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,641 shares of the company’s stock after buying an additional 3,433 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of ARS Pharmaceuticals worth $851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of ARS Pharmaceuticals by 10.4% in the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after acquiring an additional 193,321 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 38,927 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of 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 acquiring an additional 288,021 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth $6,576,000. Finally, Levin Capital Strategies L.P. boosted its stake in ARS Pharmaceuticals by 56.2% during the fourth quarter. Levin Capital Strategies L.P. now owns 467,627 shares of the company’s stock valued at $4,933,000 after buying an additional 168,201 shares during the period. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY opened at $12.36 on Friday. The firm has a market cap of $1.20 billion, a P/E ratio of -24.24 and a beta of 1.03. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51. The firm has a 50-day simple moving average of $12.06 and a two-hundred day simple moving average of $13.04.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.56. The firm had revenue of $86.58 million for the quarter, compared to the consensus estimate of $15.46 million. On average, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Transactions at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 7,696 shares of the company’s stock, valued at approximately $107,744. This trade represents a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Laura Shawver sold 49,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total transaction of $556,016.00. Following the completion of the transaction, the director now directly owns 210,346 shares in the company, valued at approximately $2,357,978.66. The trade was a 19.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,600 shares of company stock worth $1,866,516 over the last three months. 40.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SPRY. Raymond James lifted their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 14th. Scotiabank began coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price objective on the stock. Leerink Partners boosted their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, January 13th. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Finally, Oppenheimer assumed coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ARS Pharmaceuticals currently has an average rating of “Buy” and an average target price of $31.00.

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.