Sarina Tanimoto Sells 100,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Sarina Tanimoto sold 100,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.88, for a total transaction of $1,488,000.00. Following the transaction, the insider now directly owns 1,298,499 shares in the company, valued at approximately $19,321,665.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ARS Pharmaceuticals Stock Down 0.9 %

Shares of SPRY opened at $15.99 on Friday. ARS Pharmaceuticals, Inc. has a 52-week low of $3.35 and a 52-week high of $16.89. The stock has a fifty day simple moving average of $13.61 and a two-hundred day simple moving average of $10.80. The company has a market capitalization of $1.55 billion, a PE ratio of -34.02 and a beta of 0.91.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, equities analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SPRY. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, Leerink Partners boosted their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $24.00.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new position in ARS Pharmaceuticals during the third quarter worth about $30,000. Russell Investments Group Ltd. acquired a new position in shares of ARS Pharmaceuticals in the 1st quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after purchasing an additional 4,472 shares during the period. Principal Financial Group Inc. purchased a new position in shares of ARS Pharmaceuticals during the 2nd quarter worth approximately $87,000. Finally, Paloma Partners Management Co acquired a new stake in ARS Pharmaceuticals in the 1st quarter valued at approximately $103,000. 68.16% of the stock is currently owned by hedge funds and other 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.