Belpointe Asset Management LLC Takes $302,000 Position in ARS Pharmaceuticals, Inc. $SPRY

Belpointe Asset Management LLC acquired a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,323 shares of the company’s stock, valued at approximately $302,000.

A number of other hedge funds also recently made changes to their positions in SPRY. ANTIPODES PARTNERS Ltd acquired a new stake in shares of ARS Pharmaceuticals in the first quarter valued at approximately $37,000. PNC Financial Services Group Inc. increased its stake in shares of 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 purchasing an additional 3,905 shares during the period. AQR Capital Management LLC bought a new position in shares of ARS Pharmaceuticals during the first quarter worth approximately $140,000. Foster & Motley Inc. bought a new position in shares of ARS Pharmaceuticals during the first quarter worth approximately $186,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of ARS Pharmaceuticals during the first quarter worth approximately $189,000. 68.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James Financial set a $32.00 target price on ARS Pharmaceuticals in a research note on Friday, September 26th. Wall Street Zen lowered ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday. Finally, Roth Capital began coverage on ARS Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.80.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $15.00, for a total value of $187,500.00. Following the sale, the chief financial officer owned 10,042 shares of the company’s stock, valued at approximately $150,630. This trade represents a 55.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sarina Tanimoto sold 37,656 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $14.09, for a total value of $530,573.04. Following the completion of the sale, the insider directly owned 1,247,447 shares in the company, valued at approximately $17,576,528.23. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 112,500 shares of company stock valued at $1,615,759. 33.50% of the stock is currently owned by corporate insiders.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $11.32 on Friday. The stock’s fifty day moving average price is $12.22 and its two-hundred day moving average price is $14.13. ARS Pharmaceuticals, Inc. has a one year low of $9.34 and a one year high of $18.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.17 and a quick ratio of 5.98. The firm has a market cap of $1.12 billion, a PE ratio of -23.10 and a beta of 0.84.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative return on equity of 21.85% and a negative net margin of 42.74%.The company had revenue of $15.72 million for the quarter, compared to the consensus estimate of $12.92 million. As a group, research analysts expect that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal 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.