Cresset Asset Management LLC Increases Stock Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Cresset Asset Management LLC lifted its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 13.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,752 shares of the company’s stock after acquiring an additional 3,270 shares during the period. Cresset Asset Management LLC’s holdings in ARS Pharmaceuticals were worth $293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SPRY. Alliancebernstein L.P. grew its stake in ARS Pharmaceuticals by 5,168.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company’s stock valued at $40,942,000 after purchasing an additional 3,807,074 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in ARS Pharmaceuticals by 903.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company’s stock valued at $13,227,000 after purchasing an additional 1,128,724 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in ARS Pharmaceuticals during the 4th quarter valued at approximately $6,576,000. Peregrine Capital Management LLC acquired a new stake in ARS Pharmaceuticals during the 4th quarter valued at approximately $4,469,000. Finally, Balyasny Asset Management L.P. grew its stake in ARS Pharmaceuticals by 1,431.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 344,941 shares of the company’s stock valued at $3,639,000 after purchasing an additional 322,423 shares in the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SPRY. Oppenheimer began coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective for the company. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Finally, Scotiabank began coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.00.

ARS Pharmaceuticals Trading Up 11.6%

Shares of NASDAQ SPRY opened at $13.60 on Friday. ARS Pharmaceuticals, Inc. has a twelve month low of $7.55 and a twelve month high of $18.51. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -26.67 and a beta of 0.84. The business has a 50 day simple moving average of $13.34 and a 200-day simple moving average of $12.89.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). The firm had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.48 million. As a group, equities analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Insider Activity

In related news, Director Laura Shawver sold 50,002 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $12.30, for a total transaction of $615,024.60. Following the completion of the transaction, the director now directly owns 210,346 shares in the company, valued at $2,587,255.80. This represents a 19.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 7,696 shares of the company’s stock, valued at approximately $107,744. The trade was a 56.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,602 shares of company stock worth $1,311,041. 33.50% of the stock is currently owned by insiders.

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.