Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Sells $1,293,000.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total value of $1,293,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,398,499 shares of the company’s stock, valued at $18,082,592.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ARS Pharmaceuticals Stock Performance

Shares of ARS Pharmaceuticals stock opened at $14.77 on Friday. ARS Pharmaceuticals, Inc. has a twelve month low of $2.75 and a twelve month high of $16.50. The firm has a market cap of $1.43 billion, a P/E ratio of -28.40 and a beta of 0.90. The firm’s 50-day simple moving average is $12.03 and its 200-day simple moving average is $10.06.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $2.00 million. On average, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Leerink Partners upped their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Monday, September 16th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $24.00.

Institutional Trading of ARS Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in shares of ARS Pharmaceuticals during the first quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after purchasing an additional 4,472 shares in the last quarter. Principal Financial Group Inc. bought a new position in ARS Pharmaceuticals during the 2nd quarter valued at about $87,000. Paloma Partners Management Co acquired a new position in ARS Pharmaceuticals in the first quarter valued at about $103,000. Finally, SG Americas Securities LLC bought a new stake in ARS Pharmaceuticals during the first quarter worth about $119,000. 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.