Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells 10,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the sale, the insider now owns 7,696 shares in the company, valued at $107,744. This trade represents a 56.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock traded down $1.95 during trading hours on Friday, reaching $12.36. The company had a trading volume of 4,452,514 shares, compared to its average volume of 1,049,391. The stock has a fifty day moving average of $12.04 and a 200-day moving average of $13.04. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -24.24 and a beta of 1.03. ARS Pharmaceuticals, Inc. has a 12-month low of $7.55 and a 12-month high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.56. The company had revenue of $86.58 million during the quarter, compared to analysts’ expectations of $15.46 million. On average, analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPRY. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ARS Pharmaceuticals in the third quarter valued at approximately $1,120,000. Intech Investment Management LLC acquired a new position in ARS Pharmaceuticals in the third quarter valued at approximately $239,000. Charles Schwab Investment Management Inc. lifted its holdings in ARS Pharmaceuticals by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 423,947 shares of the company’s stock valued at $6,147,000 after acquiring an additional 8,417 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in ARS Pharmaceuticals by 121.1% in the third quarter. The Manufacturers Life Insurance Company now owns 46,854 shares of the company’s stock valued at $679,000 after acquiring an additional 25,658 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ARS Pharmaceuticals by 766.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock valued at $3,401,000 after acquiring an additional 207,456 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SPRY shares. Raymond James raised their target price on ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 14th. William Blair reiterated an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Scotiabank began coverage on ARS Pharmaceuticals in a research note on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective for the company. Oppenheimer began coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Leerink Partners boosted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $31.00.

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.