Parkman Healthcare Partners LLC Purchases New Shares in ARS Pharmaceuticals, Inc. $SPRY

Parkman Healthcare Partners LLC acquired a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 102,700 shares of the company’s stock, valued at approximately $823,000. Parkman Healthcare Partners LLC owned 0.10% of ARS Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of ARS Pharmaceuticals in the second quarter worth approximately $42,544,000. Rubric Capital Management LP boosted its stake in ARS Pharmaceuticals by 247.5% in the 3rd quarter. Rubric Capital Management LP now owns 4,500,000 shares of the company’s stock worth $45,225,000 after purchasing an additional 3,205,122 shares during the period. Millennium Management LLC purchased a new position in ARS Pharmaceuticals during the 4th quarter worth approximately $36,912,000. Adage Capital Partners GP L.L.C. acquired a new stake in ARS Pharmaceuticals during the 2nd quarter valued at $30,154,000. Finally, UBS Group AG lifted its holdings in shares of ARS Pharmaceuticals by 235.0% in the fourth quarter. UBS Group AG now owns 2,210,866 shares of the company’s stock valued at $25,757,000 after purchasing an additional 1,550,980 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPRY has been the topic of a number of research analyst reports. Weiss Ratings downgraded ARS Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 17th. Cantor Fitzgerald upped their target price on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Leerink Partners decreased their price target on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Four equities 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.20.

Insider Buying and Selling

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

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock opened at $5.35 on Tuesday. ARS Pharmaceuticals, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $14.00. The stock’s 50-day moving average is $7.15 and its two-hundred day moving average is $8.11. The company has a debt-to-equity ratio of 13.72, a current ratio of 3.48 and a quick ratio of 3.28. The firm has a market cap of $532.04 million, a P/E ratio of -2.45 and a beta of 0.98.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.15). ARS Pharmaceuticals had a negative net margin of 184.24% and a negative return on equity of 256.67%. The firm had revenue of $33.66 million during the quarter, compared to the consensus estimate of $31.32 million. Analysts predict that ARS Pharmaceuticals, Inc. will post -1.9 earnings per share for the current fiscal year.

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.