SBI Securities Co. Ltd. Invests $175,000 in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

SBI Securities Co. Ltd. acquired a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,553 shares of the company’s stock, valued at approximately $175,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its position in shares of ARS Pharmaceuticals by 10.4% in the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after buying an additional 193,321 shares in the last quarter. Geode Capital Management LLC raised its position in ARS Pharmaceuticals by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after purchasing an additional 38,927 shares in the last quarter. Royce & Associates LP raised its position in ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after purchasing an additional 45,755 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after purchasing an additional 288,021 shares in the last quarter. Finally, First Turn Management LLC acquired a new position in ARS Pharmaceuticals during the third quarter valued at approximately $8,603,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

ARS Pharmaceuticals Stock Performance

NASDAQ SPRY opened at $10.79 on Friday. The firm’s fifty day moving average price is $11.88 and its two-hundred day moving average price is $13.18. The stock has a market cap of $1.05 billion, a PE ratio of -21.16 and a beta of 0.99. ARS Pharmaceuticals, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $18.51.

Analysts Set New Price Targets

Several research analysts have commented on SPRY shares. Raymond James boosted their price objective 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. Leerink Partners boosted their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $28.80.

Insider Buying and Selling

In related news, insider Justin Chakma sold 27,272 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.06, for a total value of $328,900.32. Following the sale, the insider now owns 136,380 shares of the company’s stock, valued at $1,644,742.80. The trade was a 16.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brian Dorsey sold 25,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $12.30, for a total transaction of $307,500.00. Following the completion of the sale, the chief operating officer now directly owns 6,024 shares in the company, valued at approximately $74,095.20. This represents a 80.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 352,272 shares of company stock valued at $4,289,900 over the last 90 days. 40.10% of the stock is owned by insiders.

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.