This article presents the results of long-term spectral studies of the unusual Herbig Ae star V1295 Aql. The variability in the spectrophotometric parameters of the emission and absorption components of the hydrogen lines Hα, Hβ, and D Na I—and of various metallic lines—is studied. The periodic variability in these parameters over a period of 51.7 days, recently established using mean longitudinal magnetic field measurements, is confirmed. The obtained average value of the radial velocities of metal absorption lines is Vr = 0.75 ± 1.85 km/s. According to our long-term observations, the radial velocities of the star do not change over time. This indicates the absence of a close stellar-mass companion.