Insider Selling: ARS Pharmaceuticals (NASDAQ:SPRY) Insider Sells 25,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 25,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the transaction, the insider directly owned 12,176 shares in the company, valued at approximately $121,760. The trade was a 67.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ:SPRY traded up $0.17 during midday trading on Friday, reaching $9.76. 1,324,322 shares of the company’s stock traded hands, compared to its average volume of 1,633,809. The company 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 debt-to-equity ratio of 2.79, a quick ratio of 4.77 and a current ratio of 4.94. ARS Pharmaceuticals, Inc. has a one year low of $6.66 and a one year high of $18.90. The stock has a 50 day moving average of $8.42 and a 200 day moving average of $9.33.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPRY. Cantor Fitzgerald upped their price objective on ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Northland Securities began coverage on ARS Pharmaceuticals in a research report on Thursday, April 9th. They set an “outperform” rating and a $25.00 price objective for the company. Zacks Research upgraded ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings upgraded ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ARS Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $28.60.

Institutional Trading of ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FAS Wealth Partners Inc. increased its position in ARS Pharmaceuticals by 1.5% in the first quarter. FAS Wealth Partners Inc. now owns 205,407 shares of the company’s stock worth $1,649,000 after buying an additional 3,000 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new stake in ARS Pharmaceuticals in the first quarter worth about $80,000. ADAR1 Capital Management LLC increased its position in ARS Pharmaceuticals by 268.4% in the first quarter. ADAR1 Capital Management LLC now owns 1,361,536 shares of the company’s stock worth $10,933,000 after buying an additional 991,967 shares in the last quarter. Rubric Capital Management LP increased its position in ARS Pharmaceuticals by 29.0% in the first quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock worth $64,240,000 after buying an additional 1,800,000 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in ARS Pharmaceuticals by 90.9% in the first quarter. Quantinno Capital Management LP now owns 101,412 shares of the company’s stock worth $814,000 after buying an additional 48,299 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

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.