State Street Corp Raises Stock Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

State Street Corp grew its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 10.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,049,542 shares of the company’s stock after purchasing an additional 193,321 shares during the period. State Street Corp’s holdings in ARS Pharmaceuticals were worth $29,718,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Turn Management LLC purchased a new stake in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $8,603,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of ARS Pharmaceuticals by 78.9% in the 3rd 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 during the last quarter. Miura Global Management LLC purchased a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at $3,915,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ARS Pharmaceuticals by 766.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock worth $3,401,000 after acquiring an additional 207,456 shares during the last quarter. Finally, Raymond James & Associates bought a new position in ARS Pharmaceuticals in the third quarter valued at $2,969,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Performance

ARS Pharmaceuticals stock opened at $11.18 on Friday. ARS Pharmaceuticals, Inc. has a fifty-two week low of $5.02 and a fifty-two week high of $18.51. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -21.92 and a beta of 0.88. The stock’s 50 day simple moving average is $14.37 and its two-hundred day simple moving average is $12.43.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SPRY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.00.

Insider Activity

In other news, COO Brian Dorsey sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $12.30, for a total transaction of $307,500.00. Following the sale, the chief operating officer now owns 6,024 shares in the company, valued at $74,095.20. This represents a 80.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $13.83, for a total value of $1,383,000.00. Following the completion of the transaction, the chief executive officer now owns 1,346,494 shares of the company’s stock, valued at $18,622,012.02. This represents a 6.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,258,058 shares of company stock worth $19,369,686. Corporate insiders own 40.10% of the company’s stock.

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.