Tower Research Capital LLC TRC Has $39,000 Holdings in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

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

A number of other large investors also recently added to or reduced their stakes in the business. RA Capital Management L.P. increased its stake in shares of ARS Pharmaceuticals by 214.3% in the 3rd quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock valued at $35,758,000 after acquiring an additional 6,450,000 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of ARS Pharmaceuticals by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after acquiring an additional 229,988 shares during the last quarter. Denali Advisors LLC bought a new stake in shares of ARS Pharmaceuticals in the 4th quarter valued at about $480,000. Letko Brosseau & Associates Inc. bought a new stake in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $136,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of ARS Pharmaceuticals by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,105 shares of the company’s stock valued at $61,000 after acquiring an additional 8,652 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ra Capital Management, L.P. acquired 505,954 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average price of $9.79 per share, with a total value of $4,953,289.66. Following the acquisition, the director now owns 9,958,073 shares in the company, valued at approximately $97,489,534.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ra Capital Management, L.P. acquired 505,954 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average price of $9.79 per share, with a total value of $4,953,289.66. Following the acquisition, the director now owns 9,958,073 shares in the company, valued at approximately $97,489,534.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sarina Tanimoto sold 98,778 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $9.02, for a total value of $890,977.56. Following the sale, the insider now directly owns 1,747,294 shares of the company’s stock, valued at approximately $15,760,591.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 503,260 shares of company stock valued at $4,612,480. 35.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

ARS Pharmaceuticals Price Performance

Shares of SPRY traded up $0.13 during mid-day trading on Thursday, hitting $9.46. 575,500 shares of the company’s stock were exchanged, compared to its average volume of 609,331. The company has a market cap of $916.58 million, a PE ratio of -16.37 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a 52 week low of $2.55 and a 52 week high of $11.27. The company has a 50-day simple moving average of $8.96 and a 200 day simple moving average of $6.55.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.07. On average, analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.69 earnings per share for the current year.

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.