ARS Pharmaceuticals, Inc. $SPRY Shares Bought by Rubric Capital Management LP

Rubric Capital Management LP grew its stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 29.0% in the first quarter, Holdings Channel.com reports. The firm owned 8,000,000 shares of the company’s stock after acquiring an additional 1,800,000 shares during the quarter. Rubric Capital Management LP owned approximately 0.08% of ARS Pharmaceuticals worth $64,240,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SPRY. Mirae Asset Global Investments Co. Ltd. increased its position in ARS Pharmaceuticals by 25.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock worth $56,000 after purchasing an additional 982 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ARS Pharmaceuticals by 3.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock valued at $596,000 after purchasing an additional 1,234 shares during the last quarter. ProShare Advisors LLC boosted its holdings in ARS Pharmaceuticals by 11.3% in the 4th quarter. ProShare Advisors LLC now owns 15,139 shares of the company’s stock valued at $176,000 after purchasing an additional 1,532 shares during the last quarter. FAS Wealth Partners Inc. grew its stake in shares of ARS Pharmaceuticals by 0.9% in the 4th quarter. FAS Wealth Partners Inc. now owns 202,407 shares of the company’s stock valued at $2,358,000 after buying an additional 1,787 shares during the period. Finally, Osaic Holdings Inc. grew its stake in shares of ARS Pharmaceuticals by 52.8% in the 2nd quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after buying an additional 1,803 shares during the period. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Stock Down 3.0%

Shares of NASDAQ: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 company has a market capitalization of $571.97 million, a PE 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. The firm has a 50 day simple moving average of $8.36 and a 200-day simple moving average of $8.81.

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

Analyst Ratings Changes

SPRY has been the subject of several recent analyst reports. Leerink Partners cut their target price 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 started coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Cantor Fitzgerald upped their price objective on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ARS Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $28.20.

Insider Activity at ARS Pharmaceuticals

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

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