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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) reached a new 52-week high on Monday . The company traded as high as $18.83 and last traded at $18.83, with a volume of 28273 shares. The stock had previously closed at $17.04.

Wall Street Analysts Forecast Growth

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

ARS Pharmaceuticals Trading Down 5.0 %

The business has a fifty day simple moving average of $14.49 and a 200 day simple moving average of $11.64.

Insider Buying and Selling

In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $15.03, for a total transaction of $1,503,000.00. Following the sale, the chief executive officer now directly owns 1,497,447 shares of the company’s stock, valued at approximately $22,506,628.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $15.03, for a total value of $1,503,000.00. Following the sale, the chief executive officer now owns 1,497,447 shares of the company’s stock, valued at approximately $22,506,628.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Karas sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the transaction, the insider now owns 5,693 shares of the company’s stock, valued at $79,702. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,055,895 shares of company stock worth $14,619,032 over the last ninety days. 40.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of ARS Pharmaceuticals in the third quarter valued at approximately $30,000. Russell Investments Group Ltd. bought a new position in shares of ARS Pharmaceuticals in the first quarter worth $60,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after purchasing an additional 4,472 shares in the last quarter. Paloma Partners Management Co acquired a new stake in ARS Pharmaceuticals in the first quarter worth about $103,000. Finally, Principal Financial Group Inc. bought a new position in ARS Pharmaceuticals in the 2nd quarter valued at about $87,000. 68.16% of the stock is owned by institutional investors and hedge funds.

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.