ExodusPoint Capital Management LP Buys Shares of 24,628 ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

ExodusPoint Capital Management LP bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,628 shares of the company’s stock, valued at approximately $260,000.

Several other large investors have also modified their holdings of SPRY. Alliancebernstein L.P. increased its stake in ARS Pharmaceuticals by 5,168.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock valued at $40,942,000 after buying an additional 3,807,074 shares during the period. Vanguard Group Inc. increased its stake in shares of ARS Pharmaceuticals by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock worth $36,555,000 after acquiring an additional 115,656 shares during the period. State Street Corp raised 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 purchasing an additional 193,321 shares in the last quarter. Geode Capital Management LLC lifted its position in ARS Pharmaceuticals by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company’s stock valued at $13,066,000 after purchasing an additional 3,351 shares during the period. Finally, Royce & Associates LP boosted its holdings in ARS Pharmaceuticals by 34.4% in the 4th quarter. Royce & Associates LP now owns 929,613 shares of the company’s stock valued at $9,807,000 after purchasing an additional 238,158 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Up 6.1 %

ARS Pharmaceuticals stock opened at $14.05 on Monday. The firm has a market capitalization of $1.38 billion, a PE ratio of -27.55 and a beta of 0.86. ARS Pharmaceuticals, Inc. has a 52 week low of $7.55 and a 52 week high of $18.51. The firm’s 50-day simple moving average is $12.00 and its 200 day simple moving average is $13.03.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPRY. Scotiabank started coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price for the company. Raymond James raised their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 target price on the stock. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Leerink Partners upped 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. Five 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, ARS Pharmaceuticals has an average rating of “Buy” and a consensus target price of $31.00.

Insider Buying and Selling at ARS Pharmaceuticals

In related news, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 20th. 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 7,696 shares of the company’s stock, valued at approximately $107,744. The trade was a 56.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Laura Shawver sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $12.31, for a total transaction of $615,500.00. Following the sale, the director now directly owns 210,346 shares in the company, valued at $2,589,359.26. This represents a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,602 shares of company stock worth $1,926,541. 40.10% of the stock is owned by insiders.

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.