ARS Pharmaceuticals (SPRY)

• Market cap: $991M
• 1 day: -1.18%
• 5 days: -1.57%
• 1 month: -39.8%
• 3 months: -30.35%
• 6 months: -18.52%
• Year to date: -6.35%
• 1 year: -20.59%
• 5 years: -59.88%
• 10 years: -59.88%
• Sector: Healthcare
• Industry: Biotechnology

About: ARS Pharmaceuticals Inc is a biopharmaceutical company focused on the development of novel, potentially first-in-class product candidate, neffy for the emergency treatment of Type I allergic reactions, including anaphylaxis. neffy is a proprietary composition of epinephrine with an absorption enhancer called Intravail, which allows neffy to provide injection-like absorption of epinephrine at a low dose, in a small, easy-to-carry, easy-to-use, rapidly administered and reliable nasal spray.

Employees: 167

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

175% more call options, than puts

Call options by funds: $11.1M | Put options by funds: $4.05M

167% more funds holding in top 10

Funds holding in top 10: 3 [Q1] → 8 (+5) [Q2]

74% more repeat investments, than reductions

Existing positions increased: 82 | Existing positions reduced: 47

54% more capital invested

Capital invested by funds: $960M [Q1] → $1.48B (+$516M) [Q2]

18% more first-time investments, than exits

New positions opened: 26 | Existing positions closed: 22

8.33% more ownership

Funds ownership: 77.73% [Q1] → 86.07% (+8.33%) [Q2]

1% more funds holding

Funds holding: 184 [Q1] → 186 (+2) [Q2]

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $40
• Avg. target: $40
• High target: $40

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

Roth Capital Jason Wittes

$40

Buy Initiated

4 Sep 2025