ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Up to $8.05

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $8.05, but opened at $8.33. ARS Pharmaceuticals shares last traded at $8.16, with a volume of 43,645 shares traded.

Wall Street Analysts Forecast Growth

SPRY has been the topic of several recent research reports. SVB Leerink upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $6.00 to $18.00 in a research report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and issued a $19.00 price target on shares of ARS Pharmaceuticals in a report on Monday, March 11th. Finally, Leerink Partnrs upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 5th.

ARS Pharmaceuticals Stock Performance

The firm has a market cap of $824.58 million, a price-to-earnings ratio of -16.37 and a beta of 0.88. The firm’s 50 day moving average is $8.75 and its 200-day moving average is $7.89.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). As a group, research analysts predict that ARS Pharmaceuticals, Inc. will post -0.65 EPS for the current year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 1,646,494 shares in the company, valued at $15,279,464.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $9.28, for a total transaction of $928,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,646,494 shares in the company, valued at $15,279,464.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sarina Tanimoto sold 95,862 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $9.15, for a total value of $877,137.30. Following the completion of the sale, the insider now owns 1,546,494 shares in the company, valued at approximately $14,150,420.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 500,000 shares of company stock worth $4,610,040. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. raised its position 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 during the last quarter. Denali Advisors LLC acquired a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at approximately $480,000. China Universal Asset Management Co. Ltd. raised its holdings in ARS Pharmaceuticals by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,105 shares of the company’s stock valued at $61,000 after buying an additional 8,652 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in ARS Pharmaceuticals by 22,300.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock valued at $31,000 after buying an additional 5,575 shares during the last quarter. Finally, AJOVista LLC acquired a new stake in ARS Pharmaceuticals during the 4th quarter worth approximately $43,000. 68.16% of the stock is currently owned by institutional investors.

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.