ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 11.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,461 shares of the company’s stock after selling 2,891 shares during the period. Legato Capital Management LLC’s holdings in ARS Pharmaceuticals were worth $226,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth $30,000. Quarry LP acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth $174,000. TFG Advisers LLC acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth $180,000. Stifel Financial Corp acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth $199,000. Finally, Intech Investment Management LLC acquired a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth $239,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Trading Up 0.8 %

Shares of ARS Pharmaceuticals stock opened at $12.02 on Friday. The company has a fifty day moving average price of $12.11 and a 200 day moving average price of $13.17. ARS Pharmaceuticals, Inc. has a twelve month low of $6.70 and a twelve month high of $18.51. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -23.57 and a beta of 0.99.

Wall Street Analysts Forecast Growth

SPRY has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on ARS Pharmaceuticals in a report on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective for the company. Leerink Partners upped their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Monday, January 13th. Finally, Raymond James upped their price objective on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $28.80.

Insider Buying and Selling

In other ARS Pharmaceuticals news, insider Justin Chakma sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $13.19, for a total value of $593,550.00. Following the completion of the transaction, the insider now directly owns 136,380 shares of the company’s stock, valued at $1,798,852.20. This represents a 24.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brian Dorsey sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $12.30, for a total transaction of $307,500.00. Following the completion of the transaction, the chief operating officer now directly owns 6,024 shares of the company’s stock, valued at approximately $74,095.20. The trade was a 80.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 617,102 shares of company stock valued at $7,935,840. Company 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.