Lisanti Capital Growth LLC Has $7.33 Million Holdings in ARS Pharmaceuticals, Inc. $SPRY

Lisanti Capital Growth LLC raised its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 116.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 420,075 shares of the company’s stock after purchasing an additional 226,245 shares during the period. ARS Pharmaceuticals accounts for about 2.0% of Lisanti Capital Growth LLC’s portfolio, making the stock its 6th largest position. Lisanti Capital Growth LLC’s holdings in ARS Pharmaceuticals were worth $7,330,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new position in shares of ARS Pharmaceuticals during the first quarter valued at approximately $37,000. PNC Financial Services Group Inc. lifted its holdings in ARS Pharmaceuticals by 78,100.0% during the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company’s stock worth $49,000 after buying an additional 3,905 shares during the period. Nisa Investment Advisors LLC boosted its position in ARS Pharmaceuticals by 10.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,281 shares of the company’s stock valued at $110,000 after acquiring an additional 590 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of ARS Pharmaceuticals in the 1st quarter valued at $140,000. Finally, KLP Kapitalforvaltning AS raised its position 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 worth $202,000 after acquiring an additional 4,700 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Sarina Tanimoto sold 37,656 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total value of $530,573.04. Following the sale, the insider directly owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. The trade was a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard E. Lowenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $14.49, for a total transaction of $724,500.00. Following the completion of the transaction, the chief executive officer owned 1,196,494 shares in the company, valued at approximately $17,337,198.06. This represents a 4.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 112,500 shares of company stock worth $1,615,759. 33.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Roth Capital initiated coverage on ARS Pharmaceuticals in a research report on Tuesday, November 4th. They set a “buy” rating and a $30.00 price objective on the stock. Raymond James Financial set a $32.00 price target on shares of ARS Pharmaceuticals in a report on Friday, September 26th. Zacks Research lowered shares of ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.80.

ARS Pharmaceuticals Trading Up 8.1%

Shares of NASDAQ:SPRY opened at $8.85 on Friday. The business has a 50 day moving average of $9.97 and a two-hundred day moving average of $13.58. ARS Pharmaceuticals, Inc. has a 12-month low of $8.05 and a 12-month high of $18.90. The company has a market capitalization of $874.65 million, a PE ratio of -18.06 and a beta of 0.83. The company has a current ratio of 6.17, a quick ratio of 5.98 and a debt-to-equity ratio of 0.37.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $15.72 million for the quarter, compared to analysts’ expectations of $12.92 million. As a group, analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

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.