Tower Research Capital LLC TRC Sells 28,581 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Tower Research Capital LLC TRC decreased its position in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 80.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,065 shares of the company’s stock after selling 28,581 shares during the quarter. Tower Research Capital LLC TRC’s holdings in ARS Pharmaceuticals were worth $39,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPRY. RA Capital Management L.P. grew its holdings in ARS Pharmaceuticals by 214.3% during the third quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock worth $35,758,000 after buying an additional 6,450,000 shares in the last quarter. Franklin Resources Inc. grew its holdings in ARS Pharmaceuticals by 5.9% during the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after buying an additional 229,988 shares in the last quarter. Denali Advisors LLC bought a new stake in ARS Pharmaceuticals during the fourth quarter worth $480,000. Bank of New York Mellon Corp grew its holdings in ARS Pharmaceuticals by 9.1% during the third quarter. Bank of New York Mellon Corp now owns 83,924 shares of the company’s stock worth $317,000 after buying an additional 7,024 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. bought a new stake in ARS Pharmaceuticals during the third quarter worth $136,000. Institutional investors own 68.16% of the company’s stock.

Analyst Ratings Changes

SPRY has been the subject of several recent research reports. SVB Leerink upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $6.00 to $18.00 in a report on Tuesday, March 5th. William Blair upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 20th. Leerink Partnrs upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 5th. Finally, Wedbush restated an “outperform” rating and issued a $19.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday, March 11th.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY traded up $0.13 during trading on Thursday, reaching $9.46. The company’s stock had a trading volume of 575,500 shares, compared to its average volume of 609,331. The firm has a market cap of $916.58 million, a price-to-earnings ratio of -16.37 and a beta of 0.88. The firm has a 50 day moving average of $8.96 and a 200-day moving average of $6.55. ARS Pharmaceuticals, Inc. has a 12 month low of $2.55 and a 12 month high of $11.27.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.07. Equities research analysts forecast that ARS Pharmaceuticals, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sarina Tanimoto sold 98,778 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total transaction of $890,977.56. Following the transaction, the insider now owns 1,747,294 shares of the company’s stock, valued at approximately $15,760,591.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sarina Tanimoto sold 98,778 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total transaction of $890,977.56. Following the transaction, the insider now owns 1,747,294 shares of the company’s stock, valued at approximately $15,760,591.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard E. Lowenthal sold 100,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $9.28, for a total value of $928,000.00. Following the transaction, the chief executive officer now directly owns 1,646,494 shares in the company, valued at approximately $15,279,464.32. The disclosure for this sale can be found here. Insiders have sold 503,260 shares of company stock valued at $4,612,480 in the last 90 days. Insiders own 35.60% of the company’s stock.

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.