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 the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the completion of the sale, the insider now directly owns 5,274,735 shares of the company’s stock, valued at approximately $95,156,219.40. This represents a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ARS Pharmaceuticals Stock Down 0.7 %

Shares of SPRY opened at $14.01 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of -27.47 and a beta of 0.90. The business’s 50 day moving average price is $14.63 and its 200-day moving average price is $11.71. ARS Pharmaceuticals, Inc. has a 52 week low of $4.28 and a 52 week high of $18.51.

Wall Street Analyst Weigh In

Several analysts have commented on SPRY shares. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Leerink Partners raised their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, ARS Pharmaceuticals currently has an average rating of “Buy” and an average price target of $24.00.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPRY. nVerses Capital LLC purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth about $30,000. Russell Investments Group Ltd. bought a new stake in ARS Pharmaceuticals during the 1st quarter valued at about $60,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after buying an additional 4,472 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of ARS Pharmaceuticals in the first quarter worth approximately $103,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of ARS Pharmaceuticals during the second quarter valued at approximately $87,000. 68.16% of the stock is owned by 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.