Investment Management Associates Inc. ADV Takes $3.63 Million Position in ARS Pharmaceuticals, Inc. $SPRY

Investment Management Associates Inc. ADV bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the 4th quarter, Holdings Channel reports. The fund bought 311,503 shares of the company’s stock, valued at approximately $3,629,000. ARS Pharmaceuticals accounts for about 1.0% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 20th largest holding.

A number of other hedge funds have also modified their holdings of SPRY. Royal Bank of Canada raised its position in shares of ARS Pharmaceuticals by 1,075.3% in the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock valued at $234,000 after acquiring an additional 16,969 shares during the period. AQR Capital Management LLC acquired a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at approximately $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of ARS Pharmaceuticals by 13.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock valued at $3,520,000 after acquiring an additional 32,526 shares during the period. JPMorgan Chase & Co. raised its position in shares of ARS Pharmaceuticals by 7.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 34,560 shares of the company’s stock valued at $603,000 after acquiring an additional 2,357 shares during the period. Finally, Legal & General Group Plc raised its position in shares of ARS Pharmaceuticals by 55.1% in the 2nd quarter. Legal & General Group Plc now owns 54,825 shares of the company’s stock valued at $957,000 after acquiring an additional 19,484 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock opened at $8.74 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 7.06 and a current ratio of 7.28. The company has a market capitalization of $867.88 million, a P/E ratio of -4.99 and a beta of 0.93. The company’s 50 day moving average price is $8.41 and its two-hundred day moving average price is $9.35. ARS Pharmaceuticals, Inc. has a 52 week low of $6.66 and a 52 week high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Monday, March 9th. The company reported ($0.42) EPS for the quarter, hitting the consensus estimate of ($0.42). The firm had revenue of $28.09 million for the quarter, compared to the consensus estimate of $25.58 million. ARS Pharmaceuticals had a negative net margin of 203.25% and a negative return on equity of 100.29%. On average, analysts expect that ARS Pharmaceuticals, Inc. will post -1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPRY has been the topic of a number of analyst reports. Northland Securities started coverage on shares of ARS Pharmaceuticals in a research report on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Leerink Partners set a $26.00 target price on shares of ARS Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings downgraded shares of ARS Pharmaceuticals from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.25.

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