ARS Pharmaceuticals (NASDAQ:SPRY) Trading Down 3.4% After Insider Selling

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) was down 3.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $8.74 and last traded at $8.75. Approximately 235,142 shares were traded during trading, a decline of 62% from the average daily volume of 612,290 shares. The stock had previously closed at $9.06.

Specifically, insider Sarina Tanimoto sold 98,778 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total value of $890,977.56. Following the completion of the transaction, the insider now directly owns 1,747,294 shares in the company, valued at $15,760,591.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 98,778 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total value of $890,977.56. Following the completion of the transaction, the insider now directly owns 1,747,294 shares in the company, valued at $15,760,591.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $9.28, for a total value of $928,000.00. Following the completion of the transaction, the chief executive officer now owns 1,646,494 shares of the company’s stock, valued at $15,279,464.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 503,260 shares of company stock valued at $4,612,480. 35.60% of the stock is owned by insiders.

Analyst Ratings Changes

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

ARS Pharmaceuticals Trading Up 0.4 %

The company has a 50 day moving average of $8.76 and a 200-day moving average of $6.28. The firm has a market capitalization of $817.36 million, a P/E ratio of -14.86 and a beta of 0.83.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.07. As a group, sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. raised its holdings in ARS Pharmaceuticals by 214.3% in the 3rd quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock valued at $35,758,000 after acquiring an additional 6,450,000 shares in the last quarter. Charles Schwab Trust Co acquired a new position in ARS Pharmaceuticals in the 3rd quarter valued at $16,050,000. BlackRock Inc. acquired a new position in ARS Pharmaceuticals in the 2nd quarter valued at $15,148,000. Nantahala Capital Management LLC raised its holdings in ARS Pharmaceuticals by 45.3% in the 4th quarter. Nantahala Capital Management LLC now owns 1,596,504 shares of the company’s stock valued at $8,749,000 after acquiring an additional 497,429 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new position in ARS Pharmaceuticals in the 1st quarter valued at $2,627,000. 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.