Insider Selling: ARS Pharmaceuticals (NASDAQ:SPRY) Insider Sells $250,000.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the transaction, the insider owned 12,176 shares of the company’s stock, valued at approximately $121,760. The trade was a 67.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY opened at $9.76 on Monday. The stock has a fifty day simple moving average of $8.42 and a two-hundred day simple moving average of $9.34. The stock has a market capitalization of $969.17 million, a price-to-earnings ratio of -4.86 and a beta of 0.94. ARS Pharmaceuticals, Inc. has a 12-month low of $6.66 and a 12-month high of $18.90. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). The company had revenue of $22.68 million for the quarter, compared to analysts’ expectations of $22.20 million. ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. On average, research analysts anticipate that ARS Pharmaceuticals, Inc. will post -1.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SPRY. Royal Bank of Canada raised its stake in shares of ARS Pharmaceuticals by 1,075.3% in the first quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock worth $234,000 after purchasing an additional 16,969 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of ARS Pharmaceuticals in the first quarter worth $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of ARS Pharmaceuticals by 13.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock worth $3,520,000 after acquiring an additional 32,526 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of ARS Pharmaceuticals by 7.3% in the second quarter. JPMorgan Chase & Co. now owns 34,560 shares of the company’s stock worth $603,000 after acquiring an additional 2,357 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of ARS Pharmaceuticals by 55.1% in the second quarter. Legal & General Group Plc now owns 54,825 shares of the company’s stock worth $957,000 after acquiring an additional 19,484 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen upgraded ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Leerink Partners set a $26.00 price objective on ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Finally, Cantor Fitzgerald lifted their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $28.60.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.