ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells $140,000.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now directly owns 5,693 shares of the company’s stock, valued at $79,702. The sale was disclosed in a filing with the SEC, which is available at this link.

Eric Karas also recently made the following trade(s):

• On Monday, August 19th, Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.00, for a total value of $140,000.00.

ARS Pharmaceuticals Stock Up 5.8 %

NASDAQ:SPRY traded up $0.81 during mid-day trading on Thursday, reaching $14.86. 2,126,625 shares of the company were exchanged, compared to its average volume of 748,515. The stock has a market cap of $1.44 billion, a PE ratio of -28.58 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 12 month low of $2.55 and a 12 month high of $16.50. The company has a fifty day moving average of $11.88 and a 200 day moving average of $9.97.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPRY has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Monday. Leerink Partners upped their price objective on shares of ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Finally, William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $22.75.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after purchasing an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in ARS Pharmaceuticals in the first quarter valued at approximately $2,790,000. SG Americas Securities LLC boosted its stake in ARS Pharmaceuticals by 861.5% in the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after acquiring an additional 99,986 shares during the last quarter. GSA Capital Partners LLP boosted its stake in ARS Pharmaceuticals by 11.7% in the first quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock valued at $1,317,000 after acquiring an additional 13,545 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in ARS Pharmaceuticals by 5.9% during the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after acquiring an additional 229,988 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.

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.