James E. Flynn Sells 528,456 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the transaction, the insider now owns 5,274,735 shares in the company, valued at approximately $95,156,219.40. This trade represents a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY opened at $14.11 on Friday. The stock has a fifty day moving average price of $14.58 and a 200 day moving average price of $11.67. ARS Pharmaceuticals, Inc. has a 1-year low of $4.27 and a 1-year high of $18.51. The company has a market cap of $1.37 billion, a PE ratio of -30.02 and a beta of 0.90.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently modified their holdings of SPRY. nVerses Capital LLC acquired a new stake in ARS Pharmaceuticals in the third quarter valued at $30,000. Russell Investments Group Ltd. acquired a new stake in ARS Pharmaceuticals in the first quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after acquiring an additional 4,472 shares during the period. Principal Financial Group Inc. acquired a new stake in ARS Pharmaceuticals in the second quarter valued at $87,000. Finally, Paloma Partners Management Co acquired a new stake in ARS Pharmaceuticals in the first quarter valued at $103,000. 68.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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