Brent L. Saunders Sells 120,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Brent L. Saunders sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $14.25, for a total value of $1,710,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.

ARS Pharmaceuticals Stock Performance

SPRY opened at $14.98 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of -29.37 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a 52-week low of $7.55 and a 52-week high of $18.51. The business’s fifty day moving average is $13.61 and its 200-day moving average is $12.87.

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

Analyst Upgrades and Downgrades

SPRY has been the topic of a number of analyst reports. Oppenheimer began coverage on ARS Pharmaceuticals in a research note on Monday, February 10th. They set an “outperform” rating and a $40.00 price objective on the stock. Wall Street Zen lowered ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a report on Monday, March 3rd. Finally, Scotiabank initiated coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its position in shares of ARS Pharmaceuticals by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 163,252 shares of the company’s stock worth $1,722,000 after buying an additional 917 shares during the last quarter. Rhumbline Advisers raised its position in ARS Pharmaceuticals by 2.9% in the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company’s stock valued at $687,000 after purchasing an additional 1,824 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in ARS Pharmaceuticals by 10.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock valued at $217,000 after purchasing an additional 1,962 shares during the last quarter. Mariner LLC raised its position in ARS Pharmaceuticals by 5.8% in the fourth quarter. Mariner LLC now owns 35,908 shares of the company’s stock valued at $379,000 after purchasing an additional 1,972 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in ARS Pharmaceuticals by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 132,213 shares of the company’s stock valued at $1,663,000 after purchasing an additional 1,975 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors.

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.