ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Sells $1,503,000.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard Lowenthal sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $15.03, for a total value of $1,503,000.00. Following the sale, the chief executive officer now owns 1,497,447 shares of the company’s stock, valued at $22,506,628.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ARS Pharmaceuticals Trading Up 1.9 %

SPRY stock traded up $0.24 during midday trading on Monday, hitting $13.20. The stock had a trading volume of 876,687 shares, compared to its average volume of 715,928. The stock has a 50-day simple moving average of $10.43 and a 200 day simple moving average of $9.36. ARS Pharmaceuticals, Inc. has a 52 week low of $2.55 and a 52 week high of $16.50. The firm has a market capitalization 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 quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $2.00 million. On average, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its holdings in ARS Pharmaceuticals by 22,300.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock worth $31,000 after acquiring an additional 5,575 shares during the period. AJOVista LLC acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter valued at approximately $43,000. Russell Investments Group Ltd. bought a new stake in shares of ARS Pharmaceuticals during the first quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in ARS Pharmaceuticals by 151.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after acquiring an additional 4,472 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in ARS Pharmaceuticals during the 2nd quarter worth about $87,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

Analyst Ratings Changes

SPRY has been the subject of a number of analyst reports. Cantor Fitzgerald began coverage on ARS Pharmaceuticals in a research report on Tuesday, August 20th. They set an “overweight” rating and a $30.00 price objective for the company. Leerink Partners upped their price target on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $18.00 to $22.00 in a research note 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.75.

ARS Pharmaceuticals Company 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.