Ars Pharmaceuticals Inc (SPRY) — Smart Money Tracker (13F, Q2 2026)

SPRY ranks #2912 out of 37501 tracked stocks by institutional interest — one of the most closely watched names in our coverage.

SPRY is a top-conviction position for Tyro Capital Management LLC — at 8.0% of their entire disclosed 13F portfolio, it's one of their largest single bets, not just a passing allocation.

The largest dollar stake in SPRY belongs to Ra Capital Management, L.p., but the position matters far more to Tyro Capital Management LLC, who has 8.0% of their own portfolio riding on it — a reminder that the biggest holder by size and the holder with the biggest bet aren't always the same fund.

Tyro Capital Management LLC has added to its SPRY position for two straight quarters, increasing it by $12.5M to reach $35.7M today.

Ra Capital Management, L.p. has trimmed its SPRY position for two straight quarters, cutting it by $39.5M while still holding $87.0M.

SPRY is down 3.8% today, but institutions show net buying of $33.3M this quarter — a divergence between today's price move and the underlying institutional flow.

SPRY reported a net loss of $215.4M over the trailing twelve months.

• Not yet profitable — net loss of $215.4M over the trailing twelve months
• Revenue grew 4.1% year over year
• Net income declined year over year, from -$48.0M to -$215.4M
• Operating cash flow was negative, using $170.9M in cash
• Current ratio of 7.28x — enough short-term assets to cover short-term liabilities
• Liabilities run 1.87x equity — within a conventional range