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 that occurred on Thursday, March 20th. The shares were sold at an average price of $14.00, for a total transaction of $140,000.00. Following the completion of the transaction, the insider now owns 7,696 shares of the company’s stock, valued at approximately $107,744. This trade represents a 56.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ARS Pharmaceuticals Stock Performance

NASDAQ SPRY opened at $12.36 on Friday. The stock has a 50-day moving average of $12.06 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 one year low of $7.55 and a one year high of $18.51.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On ARS Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of ARS Pharmaceuticals by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company’s stock worth $636,000 after buying an additional 2,670 shares during the period. Bernard Wealth Management Corp. purchased a new stake in ARS Pharmaceuticals in the fourth quarter valued at about $27,000. Ball & Co Wealth Management Inc. acquired a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at about $105,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of ARS Pharmaceuticals by 5.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 247,314 shares of the company’s stock valued at $2,609,000 after purchasing an additional 12,777 shares during the period. Finally, Woodline Partners LP grew its holdings in ARS Pharmaceuticals by 13.5% during the fourth quarter. Woodline Partners LP now owns 1,119,283 shares of the company’s stock worth $11,808,000 after acquiring an additional 133,276 shares during the period. Institutional investors own 68.16% of the company’s stock.

About ARS Pharmaceuticals

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.