ARS Pharmaceuticals (NASDAQ:SPRY) Sets New 52-Week Low – Here’s What Happened

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $5.76 and last traded at $5.7830, with a volume of 410739 shares. The stock had previously closed at $5.94.

Analyst Ratings Changes

Several research analysts recently commented on SPRY shares. Weiss Ratings upgraded shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Northland Securities assumed coverage on shares of ARS Pharmaceuticals in a report on Thursday, April 9th. They set an “outperform” rating and a $25.00 price target for the company. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Leerink Partners dropped their price objective on ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday, June 25th. Finally, Cantor Fitzgerald boosted their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ARS Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $28.20.

ARS Pharmaceuticals Stock Performance

The firm’s 50 day moving average price is $8.33 and its 200-day moving average price is $8.78. The firm has a market cap of $563.03 million, a price-to-earnings ratio of -2.82 and a beta of 0.95. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative net margin of 200.00% and a negative return on equity of 153.61%. The company had revenue of $22.68 million for the quarter, compared to analyst estimates of $22.20 million. On average, analysts anticipate that ARS Pharmaceuticals, Inc. will post -1.95 earnings per share for the current year.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Alexander A. Fitzpatrick sold 3,355 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $33,550.00. Following the completion of the transaction, the insider owned 90,910 shares of the company’s stock, valued at approximately $909,100. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Karas sold 25,000 shares of ARS Pharmaceuticals stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider directly owned 12,176 shares in the company, valued at approximately $121,760. This trade represents a 67.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of institutional investors have recently bought and sold shares of SPRY. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ARS Pharmaceuticals by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after buying an additional 982 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ARS Pharmaceuticals by 3.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock worth $596,000 after acquiring an additional 1,234 shares during the period. ProShare Advisors LLC boosted its position in shares of ARS Pharmaceuticals by 11.3% during the 4th quarter. ProShare Advisors LLC now owns 15,139 shares of the company’s stock valued at $176,000 after acquiring an additional 1,532 shares in the last quarter. FAS Wealth Partners Inc. boosted its position in shares of ARS Pharmaceuticals by 0.9% during the 4th quarter. FAS Wealth Partners Inc. now owns 202,407 shares of the company’s stock valued at $2,358,000 after acquiring an additional 1,787 shares in the last quarter. Finally, Osaic Holdings Inc. increased its stake in ARS Pharmaceuticals by 52.8% in the second quarter. Osaic Holdings Inc. now owns 5,215 shares of the company’s stock valued at $91,000 after acquiring an additional 1,803 shares during the period. Institutional investors and hedge funds own 68.16% of the company’s stock.

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