Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells 10,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the sale, the insider now owns 5,693 shares of the company’s stock, valued at $79,702. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Eric Karas also recently made the following trade(s):

• On Monday, August 19th, Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.00, for a total value of $140,000.00.

ARS Pharmaceuticals Stock Down 0.6 %

Shares of NASDAQ SPRY opened at $14.77 on Friday. The company has a market capitalization of $1.43 billion, a PE ratio of -28.40 and a beta of 0.90. The stock’s 50 day moving average price is $12.03 and its 200-day moving average price is $10.06. ARS Pharmaceuticals, Inc. has a twelve month low of $2.75 and a twelve month high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted 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 business had revenue of $0.50 million during the quarter, compared to analyst estimates of $2.00 million. As a group, research analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in ARS Pharmaceuticals by 5.9% in the fourth quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after acquiring an additional 229,988 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of ARS Pharmaceuticals by 66.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,453 shares of the company’s stock worth $189,000 after purchasing an additional 7,348 shares during the last quarter. FAS Wealth Partners Inc. raised its holdings in shares of ARS Pharmaceuticals by 31.5% in the 1st quarter. FAS Wealth Partners Inc. now owns 60,470 shares of the company’s stock worth $618,000 after purchasing an additional 14,500 shares during the period. J.W. Cole Advisors Inc. purchased a new position in ARS Pharmaceuticals in the first quarter valued at approximately $142,000. Finally, Capstone Investment Advisors LLC purchased a new position in ARS Pharmaceuticals in the first quarter valued at approximately $739,000. Institutional investors own 68.16% of the company’s stock.

Analyst Ratings Changes

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

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.