Eversept Partners LP Cuts Stake in ARS Pharmaceuticals, Inc. $SPRY

Eversept Partners LP cut its holdings in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 45.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 136,235 shares of the company’s stock after selling 115,358 shares during the period. Eversept Partners LP’s holdings in ARS Pharmaceuticals were worth $1,094,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPRY. Torren Management LLC acquired a new position in shares of ARS Pharmaceuticals in the fourth quarter worth $32,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARS Pharmaceuticals by 25.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after acquiring an additional 982 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of ARS Pharmaceuticals by 52.8% in the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after acquiring an additional 1,803 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in ARS Pharmaceuticals in the fourth quarter valued at $65,000. Finally, BNP Paribas Financial Markets boosted its holdings in ARS Pharmaceuticals by 58.3% in the second quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company’s stock valued at $106,000 after purchasing an additional 2,245 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SPRY. Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Leerink Partners decreased their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, June 25th. Northland Securities assumed coverage on ARS Pharmaceuticals in a research report on Thursday, April 9th. They set an “outperform” rating and a $25.00 price objective for the company. Finally, Cantor Fitzgerald upped their target price on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.20.

Insiders Place Their Bets

In other news, insider Eric Karas sold 25,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider directly owned 12,176 shares of the company’s stock, valued at approximately $121,760. This represents a 67.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $33,550.00. Following the completion of the transaction, the insider owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is owned by company insiders.

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $5.76 on Tuesday. ARS Pharmaceuticals, Inc. has a twelve month low of $5.62 and a twelve month high of $18.63. The firm’s fifty day simple moving average is $8.36 and its 200-day simple moving average is $8.81. The firm has a market capitalization of $571.97 million, a price-to-earnings ratio of -2.87 and a beta of 0.95. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The firm had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. Equities analysts forecast that ARS Pharmaceuticals, Inc. will post -1.95 EPS for the current fiscal year.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.