ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Shares Sold by Trexquant Investment LP

Trexquant Investment LP cut its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 33.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,563 shares of the company’s stock after selling 28,732 shares during the period. Trexquant Investment LP’s holdings in ARS Pharmaceuticals were worth $597,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SPRY. KLP Kapitalforvaltning AS acquired a new stake in ARS Pharmaceuticals during the 4th quarter worth $73,000. Compass Capital Corp MA ADV acquired a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth about $106,000. Teacher Retirement System of Texas purchased a new position in shares of ARS Pharmaceuticals during the fourth quarter worth about $122,000. Amica Mutual Insurance Co. acquired a new position in ARS Pharmaceuticals in the 4th quarter valued at about $151,000. Finally, SBI Securities Co. Ltd. acquired a new position in ARS Pharmaceuticals in the 4th quarter valued at about $175,000. 68.16% of the stock is owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock opened at $14.05 on Friday. ARS Pharmaceuticals, Inc. has a one year low of $7.55 and a one year high of $18.51. The company has a market cap of $1.38 billion, a P/E ratio of -27.55 and a beta of 0.86. The business has a fifty day moving average of $12.00 and a two-hundred day moving average of $13.04.

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

Insider Buying and Selling

In other news, Director Laura Shawver sold 49,600 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $11.21, for a total value of $556,016.00. Following the completion of the transaction, the director now owns 210,346 shares in the company, valued at $2,357,978.66. This trade represents a 19.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 7,696 shares of the company’s stock, valued at $107,744. This trade represents a 56.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,602 shares of company stock worth $1,926,541 in the last quarter. Company insiders own 40.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SPRY shares. Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 target price on the stock. Leerink Partners lifted their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Raymond James upped their price objective 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. William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Finally, Oppenheimer started coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They set an “outperform” rating and a $40.00 price target for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.