Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Sells 95,267 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 95,267 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $9.12, for a total value of $868,835.04. Following the completion of the sale, the chief executive officer now owns 1,697,447 shares of the company’s stock, valued at $15,480,716.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY opened at $9.96 on Thursday. The company has a market cap of $961.14 million, a PE ratio of -17.47 and a beta of 0.78. ARS Pharmaceuticals, Inc. has a 52-week low of $2.55 and a 52-week high of $10.20. The stock has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $5.80.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPRY shares. SVB Leerink upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $6.00 to $18.00 in a report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and set a $19.00 price objective on shares of ARS Pharmaceuticals in a report on Monday, March 11th. William Blair upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 20th. Finally, Leerink Partnrs upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 5th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. grew its stake in ARS Pharmaceuticals by 214.3% in the third quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock valued at $35,758,000 after purchasing an additional 6,450,000 shares in the last quarter. Charles Schwab Trust Co bought a new position in ARS Pharmaceuticals in the third quarter valued at approximately $16,050,000. Franklin Resources Inc. grew its stake in ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after purchasing an additional 229,988 shares in the last quarter. BlackRock Inc. bought a new position in ARS Pharmaceuticals in the second quarter valued at approximately $15,148,000. Finally, Vanguard Group Inc. grew its stake in ARS Pharmaceuticals by 15.0% in the third quarter. Vanguard Group Inc. now owns 2,121,289 shares of the company’s stock valued at $8,018,000 after purchasing an additional 276,097 shares in the last quarter. 68.16% of the stock is currently owned by institutional investors.

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.