ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Major Shareholder Sells $9,533,346.24 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) major shareholder James E. Flynn sold 528,456 shares of ARS Pharmaceuticals stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $18.04, for a total value of $9,533,346.24. Following the completion of the sale, the insider now owns 5,274,735 shares of the company’s stock, valued at $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ARS Pharmaceuticals Trading Down 0.7 %

Shares of SPRY stock opened at $14.01 on Friday. The company has a 50 day simple moving average of $14.63 and a two-hundred day simple moving average of $11.71. The stock has a market cap of $1.36 billion, a P/E ratio of -27.47 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 12 month low of $4.28 and a 12 month high of $18.51.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in ARS Pharmaceuticals during the third quarter valued at $30,000. Russell Investments Group Ltd. bought a new position in shares of ARS Pharmaceuticals in the first quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $63,000 after buying an additional 4,472 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of ARS Pharmaceuticals during the 1st quarter valued at approximately $103,000. Finally, Principal Financial Group Inc. bought a new position in shares of ARS Pharmaceuticals during the 2nd quarter valued at approximately $87,000. 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.