Peregrine Capital Management LLC Acquires New Stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)

Peregrine Capital Management LLC acquired a new stake in ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) during the 4th quarter, Holdings Channel reports. The fund acquired 423,561 shares of the company’s stock, valued at approximately $4,469,000.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in ARS Pharmaceuticals by 10.4% in the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after acquiring an additional 193,321 shares in the last quarter. Geode Capital Management LLC lifted its position in ARS Pharmaceuticals by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after acquiring an additional 38,927 shares in the last quarter. Royce & Associates LP lifted its position in ARS Pharmaceuticals by 7.1% in the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after acquiring an additional 45,755 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in ARS Pharmaceuticals by 78.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after acquiring an additional 288,021 shares in the last quarter. Finally, First Turn Management LLC bought a new stake in ARS Pharmaceuticals in the 3rd quarter valued at $8,603,000. 68.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Raymond James boosted 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 report on Tuesday, January 14th. Leerink Partners lifted their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Finally, Oppenheimer began coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 price target on the stock. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ARS Pharmaceuticals has an average rating of “Buy” and a consensus price target of $28.80.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock opened at $12.00 on Thursday. The firm has a market capitalization of $1.17 billion, a PE ratio of -23.53 and a beta of 0.99. The company’s 50-day moving average is $12.05 and its 200-day moving average is $13.22. ARS Pharmaceuticals, Inc. has a fifty-two week low of $6.70 and a fifty-two week high of $18.51.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Justin Chakma sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $14.39, for a total transaction of $359,750.00. Following the transaction, the insider now directly owns 136,380 shares in the company, valued at $1,962,508.20. The trade was a 15.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Laura Shawver sold 14,772 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $13.75, for a total transaction of $203,115.00. Following the transaction, the director now owns 210,346 shares in the company, valued at $2,892,257.50. This represents a 6.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,102 shares of company stock worth $7,935,840 in the last ninety days. 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.