ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Position Lowered by Legato Capital Management LLC

Legato Capital Management LLC decreased its stake in shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 21,461 shares of the company’s stock after selling 2,891 shares during the quarter. Legato Capital Management LLC’s holdings in ARS Pharmaceuticals were worth $226,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. nVerses Capital LLC bought a new position in shares of ARS Pharmaceuticals during the third quarter worth about $30,000. Quarry LP bought a new position in shares of ARS Pharmaceuticals during the third quarter worth about $174,000. TFG Advisers LLC bought a new position in shares of ARS Pharmaceuticals during the third quarter worth about $180,000. The Manufacturers Life Insurance Company bought a new position in shares of ARS Pharmaceuticals during the second quarter worth about $180,000. Finally, Stifel Financial Corp bought a new position in shares of ARS Pharmaceuticals during the third quarter worth about $199,000. Institutional investors own 68.16% of the company’s stock.

ARS Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ:SPRY opened at $12.02 on Friday. The firm’s 50 day moving average is $12.11 and its two-hundred day moving average is $13.17. ARS Pharmaceuticals, Inc. has a 52 week low of $6.70 and a 52 week high of $18.51. The firm has a market capitalization of $1.17 billion, a P/E ratio of -23.57 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SPRY. Oppenheimer began coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective on the stock. Leerink Partners increased their price objective on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Finally, Raymond James increased their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 14th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $28.80.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Justin Chakma sold 32,814 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.00, for a total value of $459,396.00. Following the completion of the transaction, the insider now directly owns 203,566 shares in the company, valued at $2,849,924. This trade represents a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Dorsey sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $12.30, for a total transaction of $307,500.00. Following the completion of the transaction, the chief operating officer now owns 6,024 shares of the company’s stock, valued at $74,095.20. This trade represents a 80.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 617,102 shares of company stock worth $7,935,840. 40.10% of the stock is owned by company insiders.

ARS Pharmaceuticals 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.