Eric Karas Sells 25,000 Shares of ARS Pharmaceuticals (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 25,000 shares of the firm’s stock in a transaction dated 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. This represents a 67.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ SPRY traded up $0.17 during trading hours on Friday, reaching $9.76. 1,324,322 shares of the stock traded hands, compared to its average volume of 1,633,809. The company has a quick ratio of 4.77, a current ratio of 4.94 and a debt-to-equity ratio of 2.79. The company’s 50-day simple moving average is $8.42 and its two-hundred day simple moving average is $9.33. The company has a market capitalization of $969.17 million, a P/E ratio of -4.86 and a beta of 0.94. ARS Pharmaceuticals, Inc. has a 52-week low of $6.66 and a 52-week high of $18.90.

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

Institutional Investors Weigh In On ARS Pharmaceuticals

Large investors have recently made changes to their positions in the business. Bamco Inc. NY boosted its holdings in ARS Pharmaceuticals by 3,071.3% in the third quarter. Bamco Inc. NY now owns 1,268,532 shares of the company’s stock worth $12,749,000 after acquiring an additional 1,228,532 shares in the last quarter. Casdin Capital LLC bought a new stake in ARS Pharmaceuticals in the third quarter worth $16,080,000. Levin Capital Strategies L.P. boosted its holdings in ARS Pharmaceuticals by 157.6% in the third quarter. Levin Capital Strategies L.P. now owns 764,294 shares of the company’s stock worth $7,681,000 after acquiring an additional 467,647 shares in the last quarter. Aberdeen Group plc boosted its holdings in ARS Pharmaceuticals by 106.1% in the third quarter. Aberdeen Group plc now owns 3,097,022 shares of the company’s stock worth $31,125,000 after acquiring an additional 1,594,447 shares in the last quarter. Finally, Investment Management Associates Inc. ADV bought a new stake in ARS Pharmaceuticals in the fourth quarter worth $3,629,000. 68.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings raised ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Cantor Fitzgerald lifted their price target on 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 ARS Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen raised ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Northland Securities assumed coverage on ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.60.

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