Permanent Capital Management LP Acquires Shares of 53,341 ARS Pharmaceuticals, Inc. $SPRY

Permanent Capital Management LP bought a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the third quarter, Holdings Channel reports. The firm bought 53,341 shares of the company’s stock, valued at approximately $536,000.

Other large investors also recently made changes to their positions in the company. CWM LLC boosted its position in shares of ARS Pharmaceuticals by 243.7% in the 3rd quarter. CWM LLC now owns 2,547 shares of the company’s stock worth $26,000 after purchasing an additional 1,806 shares during the last quarter. Osaic Holdings Inc. lifted its stake in ARS Pharmaceuticals by 52.8% in the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after buying an additional 1,803 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of ARS Pharmaceuticals by 16.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock worth $98,000 after buying an additional 777 shares during the period. RiverPark Advisors LLC acquired a new position in shares of ARS Pharmaceuticals during the 2nd quarter worth about $100,000. Finally, BNP Paribas Financial Markets increased its stake in shares of ARS Pharmaceuticals by 58.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,097 shares of the company’s stock valued at $106,000 after acquiring an additional 2,245 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

ARS Pharmaceuticals Stock Down 0.9%

ARS Pharmaceuticals stock opened at $11.38 on Monday. The company has a 50 day moving average of $9.40 and a 200-day moving average of $12.44. The company has a quick ratio of 6.51, a current ratio of 6.66 and a debt-to-equity ratio of 1.14. ARS Pharmaceuticals, Inc. has a twelve month low of $6.66 and a twelve month high of $18.90. The stock has a market capitalization of $1.12 billion, a PE ratio of -14.05 and a beta of 0.82.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.07). The company had revenue of $32.50 million during the quarter, compared to the consensus estimate of $28.87 million. ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. On average, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Justin Chakma sold 166,380 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total transaction of $1,475,790.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Dorsey sold 21,828 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $8.71, for a total value of $190,121.88. Following the completion of the sale, the chief operating officer owned 10,789 shares in the company, valued at $93,972.19. The trade was a 66.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 33.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SPRY shares. Raymond James Financial set a $32.00 price objective on shares of ARS Pharmaceuticals in a report on Friday, September 26th. Zacks Research raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Finally, Roth Capital began coverage on ARS Pharmaceuticals in a research note on Tuesday, November 4th. They set a “buy” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.80.

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