ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Major Shareholder Sells $9,533,346.24 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

ARS Pharmaceuticals Stock Down 15.2 %

NASDAQ SPRY traded down $2.53 on Wednesday, hitting $14.08. The company’s stock had a trading volume of 3,181,176 shares, compared to its average volume of 802,997. The company’s 50-day moving average is $14.49 and its 200 day moving average is $11.64. The firm has a market cap of $1.36 billion, a PE ratio of -31.60 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 1-year low of $4.01 and a 1-year high of $18.51.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at about $30,000. Russell Investments Group Ltd. bought a new position in ARS Pharmaceuticals during the 1st quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ARS Pharmaceuticals by 151.7% in 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 during the period. Paloma Partners Management Co bought a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at $103,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of ARS Pharmaceuticals during the second quarter worth $87,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Leerink Partners raised their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ARS Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $24.00.

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.