ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 4.5%

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price shot up 4.5% during mid-day trading on Tuesday . The company traded as high as $9.14 and last traded at $9.12. 217,172 shares changed hands during trading, a decline of 63% from the average session volume of 580,951 shares. The stock had previously closed at $8.73.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SPRY. Wedbush restated an “outperform” rating and set a $19.00 target price on shares of ARS Pharmaceuticals in a research report on Monday, March 11th. Leerink Partnrs upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 5th. Finally, SVB Leerink upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the company from $6.00 to $18.00 in a research report on Tuesday, March 5th.

ARS Pharmaceuticals Stock Up 1.1 %

The firm’s 50 day moving average is $8.76 and its two-hundred day moving average is $7.94.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Thursday, May 9th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $9.34, for a total transaction of $934,000.00. Following the sale, the insider now directly owns 1,596,494 shares in the company, valued at $14,911,253.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Richard E. Lowenthal sold 4,138 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $9.00, for a total value of $37,242.00. Following the sale, the chief executive officer now directly owns 1,594,328 shares in the company, valued at $14,348,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $9.34, for a total value of $934,000.00. Following the completion of the sale, the insider now owns 1,596,494 shares in the company, valued at $14,911,253.96. The disclosure for this sale can be found here. Insiders have sold a total of 500,000 shares of company stock worth $4,610,040 over the last 90 days. Insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SPRY. RA Capital Management L.P. boosted its holdings in ARS Pharmaceuticals by 214.3% in the third quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock valued at $35,758,000 after acquiring an additional 6,450,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after acquiring an additional 779,969 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in ARS Pharmaceuticals in the first quarter valued at approximately $2,790,000. Jacobs Levy Equity Management Inc. boosted its holdings in ARS Pharmaceuticals by 1,280.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after acquiring an additional 257,589 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after acquiring an additional 229,988 shares during the last quarter. 68.16% of the stock is currently 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.