Alliancebernstein L.P. Has $40.94 Million Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Alliancebernstein L.P. raised its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 5,168.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,880,734 shares of the company’s stock after buying an additional 3,807,074 shares during the period. Alliancebernstein L.P. owned 3.99% of ARS Pharmaceuticals worth $40,942,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of ARS Pharmaceuticals by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock valued at $1,722,000 after acquiring an additional 917 shares in the last quarter. AssuredPartners Investment Advisors LLC bought a new position in ARS Pharmaceuticals in the fourth quarter valued at approximately $312,000. Amica Mutual Insurance Co. acquired a new position in shares of ARS Pharmaceuticals during the 4th quarter worth approximately $151,000. JPMorgan Chase & Co. raised its stake in shares of ARS Pharmaceuticals by 73.6% during the 4th quarter. JPMorgan Chase & Co. now owns 31,112 shares of the company’s stock worth $328,000 after purchasing an additional 13,190 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock valued at $36,555,000 after buying an additional 115,656 shares during the last quarter. 68.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SPRY has been the topic of a number of recent analyst reports. Scotiabank assumed coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price on the stock. Leerink Partners upped their target price on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Raymond James lifted their price target on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Oppenheimer started coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals has an average rating of “Buy” and a consensus target price of $31.00.

ARS Pharmaceuticals Stock Down 4.5 %

ARS Pharmaceuticals stock opened at $12.80 on Friday. ARS Pharmaceuticals, Inc. has a twelve month low of $7.55 and a twelve month high of $18.51. The stock has a market cap of $1.26 billion, a P/E ratio of -25.10 and a beta of 0.86. The company’s 50-day moving average price is $12.09 and its two-hundred day moving average price is $13.09.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.56. The firm had revenue of $86.58 million for the quarter, compared to analyst estimates of $15.46 million. Equities analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.10, for a total value of $555,000.00. Following the completion of the sale, the director now owns 210,346 shares in the company, valued at $2,334,840.60. The trade was a 19.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total transaction of $140,000.00. Following the transaction, the insider now owns 7,696 shares in the company, valued at approximately $107,744. The trade was a 56.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 159,600 shares of company stock valued at $1,866,516. 40.10% of the stock is owned by company insiders.

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.