Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells 10,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now directly owns 5,693 shares of the company’s stock, valued at approximately $79,702. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ARS Pharmaceuticals Price Performance

ARS Pharmaceuticals stock traded up $0.24 during mid-day trading on Monday, hitting $13.20. The company’s stock had a trading volume of 876,687 shares, compared to its average volume of 715,928. The business has a 50 day moving average price of $10.43 and a 200-day moving average price of $9.36. ARS Pharmaceuticals, Inc. has a 12 month low of $2.55 and a 12 month high of $16.50. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -24.92 and a beta of 0.87.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. On average, equities research analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPRY. Vanguard Group Inc. raised its holdings in ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after buying an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of ARS Pharmaceuticals in the first quarter valued at about $2,790,000. SG Americas Securities LLC raised its stake in shares of ARS Pharmaceuticals by 861.5% during the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after acquiring an additional 99,986 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of ARS Pharmaceuticals by 11.7% during the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock worth $1,317,000 after purchasing an additional 13,545 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after purchasing an additional 229,988 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Leerink Partners lifted their price objective on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Cantor Fitzgerald initiated coverage on ARS Pharmaceuticals in a report on Tuesday, August 20th. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $22.75.

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.