ARS Pharmaceuticals (NASDAQ:SPRY) Trading 5.4% Higher – Still a Buy?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price was up 5.4% on Monday . The stock traded as high as $15.19 and last traded at $14.84. Approximately 533,700 shares traded hands during trading, a decline of 59% from the average daily volume of 1,312,863 shares. The stock had previously closed at $14.08.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Raymond James raised their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 14th. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $26.00.

ARS Pharmaceuticals Stock Up 3.0 %

The business’s fifty day moving average is $12.49 and its two-hundred day moving average is $13.06.

Insider Activity

In related news, major shareholder James E. Flynn sold 528,456 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 $95,156,219.40. The trade was a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Laura Shawver sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.10, for a total transaction of $555,000.00. Following the completion of the transaction, the director now directly owns 210,346 shares in the company, valued at approximately $2,334,840.60. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,095,558 shares of company stock valued at $16,853,686. Company insiders own 40.10% of the company’s stock.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in SPRY. China Universal Asset Management Co. Ltd. grew its stake in shares of ARS Pharmaceuticals by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $217,000 after purchasing an additional 1,962 shares during the period. Barclays PLC boosted its holdings in ARS Pharmaceuticals by 189.7% during the third quarter. Barclays PLC now owns 111,666 shares of the company’s stock worth $1,618,000 after buying an additional 73,127 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock worth $17,909,000 after buying an additional 38,927 shares during the period. XTX Topco Ltd bought a new stake in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $250,000. Finally, Wellington Management Group LLP raised its position in shares of ARS Pharmaceuticals by 38.9% in the 3rd quarter. Wellington Management Group LLP now owns 162,335 shares of the company’s stock valued at $2,354,000 after acquiring an additional 45,452 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.