Peregrine Capital Management LLC Invests $4.47 Million in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Peregrine Capital Management LLC acquired a new position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 423,561 shares of the company’s stock, valued at approximately $4,469,000. Peregrine Capital Management LLC owned approximately 0.44% of ARS Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SPRY. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $30,000. Quarry LP acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $174,000. TFG Advisers LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $180,000. Stifel Financial Corp acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $199,000. Finally, Intech Investment Management LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $239,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

Analyst Ratings Changes

SPRY has been the subject of a number of research reports. Leerink Partners raised their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Monday, January 13th. Oppenheimer began coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target for the company. Finally, Raymond James raised 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 note on Tuesday, January 14th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, ARS Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $28.80.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, Director Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $12.31, for a total transaction of $615,500.00. Following the transaction, the director now directly owns 210,346 shares of the company’s stock, valued at $2,589,359.26. This trade represents a 19.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brian Dorsey sold 25,000 shares of ARS Pharmaceuticals 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 617,102 shares of company stock valued at $7,935,840. 40.10% of the stock is currently owned by insiders.

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock opened at $12.00 on Thursday. ARS Pharmaceuticals, Inc. has a 52-week low of $6.70 and a 52-week high of $18.51. The stock has a market cap of $1.17 billion, a PE ratio of -23.53 and a beta of 0.99. The firm’s 50 day moving average price is $12.05 and its two-hundred day moving average price is $13.22.

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.