Levin Capital Strategies L.P. Grows Position in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Levin Capital Strategies L.P. increased its holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 56.2% in the fourth quarter, Holdings Channel reports. The fund owned 467,627 shares of the company’s stock after purchasing an additional 168,201 shares during the quarter. Levin Capital Strategies L.P.’s holdings in ARS Pharmaceuticals were worth $4,933,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SPRY. Creative Planning lifted its stake in ARS Pharmaceuticals by 7.0% in the third quarter. Creative Planning now owns 35,263 shares of the company’s stock worth $511,000 after acquiring an additional 2,307 shares during the period. Raymond James & Associates purchased a new stake in ARS Pharmaceuticals in the third quarter worth about $2,969,000. Wealth Enhancement Advisory Services LLC lifted its stake in ARS Pharmaceuticals by 9.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 57,624 shares of the company’s stock worth $836,000 after acquiring an additional 4,810 shares during the period. US Bancorp DE lifted its position in shares of ARS Pharmaceuticals by 11,951.6% during the third quarter. US Bancorp DE now owns 18,680 shares of the company’s stock valued at $271,000 after buying an additional 18,525 shares during the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of ARS Pharmaceuticals by 67.7% during the third quarter. GSA Capital Partners LLP now owns 98,900 shares of the company’s stock valued at $1,434,000 after buying an additional 39,921 shares during the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Brian Dorsey sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $12.30, for a total transaction of $307,500.00. Following the transaction, the chief operating officer now owns 6,024 shares in the company, valued at $74,095.20. This represents a 80.58 % 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 Justin Chakma sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $13.19, for a total transaction of $593,550.00. Following the completion of the transaction, the insider now owns 136,380 shares in the company, valued at approximately $1,798,852.20. This trade represents a 24.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 559,288 shares of company stock worth $7,116,694 over the last 90 days. 40.10% of the stock is currently owned by corporate insiders.

ARS Pharmaceuticals Stock Up 2.7 %

SPRY opened at $10.48 on Friday. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51. The company has a market cap of $1.02 billion, a P/E ratio of -20.55 and a beta of 0.99. The firm’s 50-day moving average price is $11.93 and its 200-day moving average price is $13.23.

Analysts Set New Price Targets

Several analysts have commented on SPRY shares. Raymond James increased their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 14th. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Friday, February 21st. Leerink Partners increased their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Finally, Oppenheimer started coverage on shares of ARS Pharmaceuticals in a research report on Monday, February 10th. They set an “outperform” rating and a $40.00 price target for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $28.80.

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.