Alliancebernstein L.P. Acquires 3,807,074 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Alliancebernstein L.P. raised its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 5,168.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,880,734 shares of the company’s stock after purchasing an additional 3,807,074 shares during the period. Alliancebernstein L.P.’s holdings in ARS Pharmaceuticals were worth $40,942,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in ARS Pharmaceuticals during the 4th quarter worth approximately $73,000. Compass Capital Corp MA ADV bought a new stake in shares of ARS Pharmaceuticals during the fourth quarter worth $106,000. Teacher Retirement System of Texas acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $122,000. Quarry LP bought a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at $174,000. Finally, Stifel Financial Corp bought a new stake in ARS Pharmaceuticals during the 3rd quarter worth $199,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Down 4.5 %

Shares of NASDAQ SPRY opened at $12.80 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of -25.10 and a beta of 0.86. The firm’s 50-day moving average price is $12.09 and its 200-day moving average price is $13.09. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.56. The firm had revenue of $86.58 million for the quarter, compared to analyst estimates of $15.46 million. Equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Activity

In related news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the transaction, the director now directly owns 210,346 shares in the company, valued at approximately $2,589,359.26. The trade was a 19.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the sale, the insider now directly owns 7,696 shares in the company, valued at $107,744. The trade was a 56.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 159,600 shares of company stock valued at $1,866,516 in the last three months. Company insiders own 40.10% of the company’s stock.

Analysts Set New Price Targets

SPRY has been the subject of several research reports. Oppenheimer started coverage on ARS Pharmaceuticals in a research report on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Raymond James upped their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 14th. Scotiabank assumed coverage on shares of ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price target on the stock. Finally, Leerink Partners increased their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $31.00.

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.