General American Investors Co. Inc. Purchases New Position in ARS Pharmaceuticals, Inc. $SPRY

General American Investors Co. Inc. purchased a new stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 559,959 shares of the company’s stock, valued at approximately $6,524,000.

Several other institutional investors also recently bought and sold shares of the stock. Rubric Capital Management LP raised its position in ARS Pharmaceuticals by 37.8% during the fourth quarter. Rubric Capital Management LP now owns 6,200,000 shares of the company’s stock valued at $72,230,000 after acquiring an additional 1,700,000 shares in the last quarter. Aberdeen Group plc raised its position in ARS Pharmaceuticals by 14.8% during the fourth quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after acquiring an additional 459,027 shares in the last quarter. Vanguard Group Inc. raised its position in ARS Pharmaceuticals by 7.3% during the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after acquiring an additional 237,630 shares in the last quarter. State Street Corp raised its position in ARS Pharmaceuticals by 11.3% during the fourth quarter. State Street Corp now owns 3,223,581 shares of the company’s stock valued at $37,555,000 after acquiring an additional 328,325 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in ARS Pharmaceuticals by 6.1% during the fourth quarter. Franklin Resources Inc. now owns 2,543,097 shares of the company’s stock valued at $29,627,000 after acquiring an additional 145,085 shares in the last quarter. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on SPRY shares. Leerink Partners set a $26.00 price target on ARS Pharmaceuticals and gave the company an “outperform” rating in a research report on Tuesday, March 10th. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Finally, 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 target for the company. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ARS Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.60.

ARS Pharmaceuticals Stock Up 1.8%

Shares of SPRY opened at $9.76 on Friday. The company has a debt-to-equity ratio of 2.79, a quick ratio of 4.77 and a current ratio of 4.94. ARS Pharmaceuticals, Inc. has a one year low of $6.66 and a one year high of $18.90. The stock has a market capitalization of $969.17 million, a price-to-earnings ratio of -4.86 and a beta of 0.94. The stock has a 50 day moving average price of $8.42 and a 200 day moving average price of $9.33.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%.The firm had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.20 million. Equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -1.89 earnings per share for the current fiscal year.

Insider Activity at ARS Pharmaceuticals

In related news, insider Alexander A. Fitzpatrick sold 3,355 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $33,550.00. Following the completion of the sale, the insider directly owned 90,910 shares in the company, valued at approximately $909,100. The trade was a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider owned 12,176 shares of the company’s stock, valued at $121,760. The trade was a 67.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.