American Assets Inc. Makes New $553,000 Investment in ARS Pharmaceuticals, Inc. $SPRY

American Assets Inc. bought a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the third quarter, HoldingsChannel reports. The fund bought 55,000 shares of the company’s stock, valued at approximately $553,000. ARS Pharmaceuticals accounts for approximately 0.2% of American Assets Inc.’s investment portfolio, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPRY. Royal Bank of Canada lifted its stake in ARS Pharmaceuticals by 1,075.3% in the first 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 last quarter. AQR Capital Management LLC bought a new position in shares of ARS Pharmaceuticals during the first quarter worth approximately $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in ARS Pharmaceuticals by 13.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock worth $3,520,000 after buying an additional 32,526 shares in the last quarter. Belpointe Asset Management LLC bought a new position in ARS Pharmaceuticals in the 2nd quarter valued at about $302,000. Finally, KLP Kapitalforvaltning AS increased its stake in shares of ARS Pharmaceuticals by 68.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,600 shares of the company’s stock valued at $202,000 after purchasing an additional 4,700 shares during the last quarter. 68.16% of the stock is owned by institutional investors.

ARS Pharmaceuticals Stock Up 3.7%

SPRY stock opened at $10.03 on Friday. The stock has a fifty day moving average of $10.66 and a 200-day moving average of $11.20. ARS Pharmaceuticals, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $18.90. The company has a market capitalization of $991.47 million, a price-to-earnings ratio of -12.38 and a beta of 0.79. The company has a debt-to-equity ratio of 1.14, a quick ratio of 6.51 and a current ratio of 6.66.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. The business had revenue of $32.50 million for the quarter, compared to the consensus estimate of $28.87 million. As a group, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research cut ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, January 21st. Finally, Roth Mkm began coverage on shares of ARS Pharmaceuticals in a research report on Tuesday, November 4th. They set a “buy” rating and a $30.00 target price for the company. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, ARS Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Insider Activity

In other ARS Pharmaceuticals news, insider Justin Chakma sold 166,380 shares of ARS Pharmaceuticals stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $8.87, for a total transaction of $1,475,790.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Dorsey sold 21,828 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $8.71, for a total value of $190,121.88. Following the transaction, the chief operating officer owned 10,789 shares in the company, valued at $93,972.19. This trade represents a 66.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.