Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Sells 50,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $12.31, for a total value of $615,500.00. Following the completion of the transaction, the director now owns 210,346 shares in the company, valued at $2,589,359.26. This represents a 19.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Laura Shawver also recently made the following trade(s):

• On Monday, January 6th, Laura Shawver sold 50,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $11.10, for a total value of $555,000.00.
• On Monday, December 2nd, Laura Shawver sold 97,244 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $13.56, for a total value of $1,318,628.64.
• On Wednesday, December 4th, Laura Shawver sold 14,772 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $13.75, for a total transaction of $203,115.00.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY traded up $0.21 during mid-day trading on Tuesday, hitting $12.52. The company had a trading volume of 1,193,445 shares, compared to its average volume of 1,437,551. The company has a market capitalization of $1.22 billion, a PE ratio of -24.55 and a beta of 0.99. The business’s 50-day simple moving average is $12.48 and its 200 day simple moving average is $13.12. ARS Pharmaceuticals, Inc. has a 1-year low of $6.26 and a 1-year high of $18.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Leerink Partners raised their price target on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Finally, Raymond James increased their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a buy rating and two have assigned 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 price target of $26.00.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in ARS Pharmaceuticals by 10.4% in the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after buying an additional 193,321 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock worth $17,909,000 after acquiring an additional 38,927 shares in the last quarter. Royce & Associates LP increased its holdings in shares of ARS Pharmaceuticals by 7.1% in the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after acquiring an additional 45,755 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of ARS Pharmaceuticals by 78.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after acquiring an additional 288,021 shares in the last quarter. Finally, First Turn Management LLC purchased a new stake in ARS Pharmaceuticals during the third quarter worth approximately $8,603,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

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.