Royce & Associates LP Has $10.03 Million Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Royce & Associates LP raised its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 691,455 shares of the company’s stock after purchasing an additional 45,755 shares during the period. Royce & Associates LP’s holdings in ARS Pharmaceuticals were worth $10,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at about $30,000. Russell Investments Group Ltd. bought a new stake in ARS Pharmaceuticals in the first quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after acquiring an additional 4,472 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals during the 2nd quarter valued at approximately $87,000. Finally, Paloma Partners Management Co bought a new position in ARS Pharmaceuticals during the 1st quarter worth approximately $103,000. 68.16% of the stock is owned by institutional investors and hedge funds.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $14.01 on Friday. The company’s fifty day simple moving average is $14.63 and its 200 day simple moving average is $11.73. ARS Pharmaceuticals, Inc. has a 12-month low of $4.28 and a 12-month high of $18.51.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SPRY. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Leerink Partners upped their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Finally, William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.00.

Insider Activity

In other news, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.03, for a total transaction of $1,503,000.00. Following the completion of the sale, the chief executive officer now owns 1,497,447 shares in the company, valued at $22,506,628.41. The trade was a 6.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 5,693 shares in the company, valued at $79,702. The trade was a 63.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,584,351 shares of company stock worth $24,152,378. Company insiders own 40.10% of the company’s stock.

About ARS Pharmaceuticals

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.