American Capital Advisory LLC Invests $234,000 in ARS Pharmaceuticals, Inc. $SPRY

American Capital Advisory LLC purchased a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the second quarter, HoldingsChannel reports. The firm purchased 13,413 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at $37,000. PNC Financial Services Group Inc. boosted its stake in shares of ARS Pharmaceuticals by 78,100.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock valued at $49,000 after purchasing an additional 3,905 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of ARS Pharmaceuticals by 10.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,281 shares of the company’s stock valued at $110,000 after purchasing an additional 590 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at $140,000. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of ARS Pharmaceuticals by 68.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,600 shares of the company’s stock valued at $202,000 after purchasing an additional 4,700 shares during the last quarter. 68.16% of the stock is owned by institutional investors.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $14.49, for a total value of $724,500.00. Following the transaction, the chief executive officer directly owned 1,196,494 shares of the company’s stock, valued at approximately $17,337,198.06. This trade represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $187,500.00. Following the completion of the transaction, the chief financial officer directly owned 10,042 shares in the company, valued at $150,630. This trade represents a 55.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 112,500 shares of company stock valued at $1,615,759. Corporate insiders own 33.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SPRY shares. Wall Street Zen lowered shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Raymond James Financial set a $32.00 price objective on shares of ARS Pharmaceuticals in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research lowered shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Finally, Roth Capital assumed coverage on shares of ARS Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.80.

ARS Pharmaceuticals Trading Down 3.8%

SPRY opened at $8.62 on Tuesday. ARS Pharmaceuticals, Inc. has a 1-year low of $8.32 and a 1-year high of $18.90. The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37. The company has a market cap of $851.91 million, a P/E ratio of -17.59 and a beta of 0.83. The company has a fifty day moving average price of $10.31 and a two-hundred day moving average price of $13.74.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. The company had revenue of $15.72 million during the quarter, compared to the consensus estimate of $12.92 million. Analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

About ARS Pharmaceuticals

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.