ARS Pharmaceuticals (NASDAQ:SPRY) Insider Sells $33,550.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Alexander Fitzpatrick sold 3,355 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $33,550.00. Following the transaction, the insider owned 90,910 shares in the company, valued at approximately $909,100. This trade represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Stock Up 1.8%

Shares of SPRY traded up $0.17 during mid-day trading on Friday, hitting $9.76. 1,324,322 shares of the company’s stock were exchanged, compared to its average volume of 1,633,809. The firm has a fifty day moving average of $8.42 and a two-hundred day moving average of $9.33. ARS Pharmaceuticals, Inc. has a twelve month low of $6.66 and a twelve month high of $18.90. The stock has a market cap of $969.17 million, a price-to-earnings ratio of -4.86 and a beta of 0.94. The company has a quick ratio of 4.77, a current ratio of 4.94 and a debt-to-equity ratio of 2.79.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%.The business had revenue of $22.68 million for the quarter, compared to analyst estimates of $22.20 million. On average, sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -1.89 earnings per share for the current year.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several large investors have recently bought and sold shares of SPRY. Bamco Inc. NY grew its position in ARS Pharmaceuticals by 3,071.3% in the 3rd quarter. Bamco Inc. NY now owns 1,268,532 shares of the company’s stock worth $12,749,000 after purchasing an additional 1,228,532 shares during the last quarter. Casdin Capital LLC acquired a new stake in ARS Pharmaceuticals in the 3rd quarter worth $16,080,000. Levin Capital Strategies L.P. raised its position in shares of ARS Pharmaceuticals by 157.6% during the third quarter. Levin Capital Strategies L.P. now owns 764,294 shares of the company’s stock valued at $7,681,000 after buying an additional 467,647 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of ARS Pharmaceuticals by 106.1% in the third quarter. Aberdeen Group plc now owns 3,097,022 shares of the company’s stock valued at $31,125,000 after buying an additional 1,594,447 shares during the period. Finally, Investment Management Associates Inc. ADV bought a new stake in shares of ARS Pharmaceuticals in the fourth quarter valued at about $3,629,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on SPRY. Northland Securities began coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 price target on the stock. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Cantor Fitzgerald increased their price target on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Leerink Partners set a $26.00 price target on shares of ARS Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Finally, Weiss Ratings upgraded shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.60.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.