ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Alexander A. Fitzpatrick Sells 102,969 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Alexander A. Fitzpatrick sold 102,969 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.10, for a total value of $1,451,862.90. Following the completion of the transaction, the insider now directly owns 89,613 shares in the company, valued at approximately $1,263,543.30. This represents a 53.47% 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.

ARS Pharmaceuticals Trading Up 2.1%

Shares of NASDAQ SPRY opened at $14.52 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -28.47 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a one year low of $7.55 and a one year high of $18.51. The business has a fifty day simple moving average of $13.54 and a 200 day simple moving average of $12.87.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). The business had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.48 million. On average, research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors have recently made changes to their positions in SPRY. China Universal Asset Management Co. Ltd. lifted its stake in ARS Pharmaceuticals by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $217,000 after purchasing an additional 1,962 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of ARS Pharmaceuticals by 93.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company’s stock worth $3,631,000 after buying an additional 165,950 shares during the period. Rhumbline Advisers lifted its position in shares of ARS Pharmaceuticals by 2.9% during the 4th quarter. Rhumbline Advisers now owns 65,163 shares of the company’s stock worth $687,000 after buying an additional 1,824 shares during the period. Peregrine Capital Management LLC acquired a new stake in ARS Pharmaceuticals in the 4th quarter valued at $4,469,000. Finally, Compass Capital Corp MA ADV bought a new stake in ARS Pharmaceuticals in the fourth quarter valued at $106,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on SPRY. William Blair restated an “outperform” rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Scotiabank began coverage on shares of ARS Pharmaceuticals in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $30.00 price target on the stock. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Oppenheimer assumed coverage on shares of ARS Pharmaceuticals in a research note on Monday, February 10th. They issued an “outperform” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

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.