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 that occurred on Friday, June 12th. The shares were sold at an average price of $10.00, for a total transaction of $33,550.00. Following the completion of the transaction, the insider owned 90,910 shares of the company’s stock, valued at $909,100. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock traded up $0.17 on Friday, hitting $9.76. The company had a trading volume of 1,324,322 shares, compared to its average volume of 1,633,809. The business has a 50-day simple moving average of $8.42 and a 200-day simple moving average of $9.33. The company has a debt-to-equity ratio of 2.79, a current ratio of 4.94 and a quick ratio of 4.77. The company has a market cap of $969.17 million, a PE 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 posted its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The company had revenue of $22.68 million during 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%. Research analysts expect that ARS Pharmaceuticals, Inc. will post -1.89 EPS for the current fiscal year.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in ARS Pharmaceuticals by 1,075.3% in the 1st quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock worth $234,000 after buying an additional 16,969 shares in the last quarter. AQR Capital Management LLC purchased a new stake in ARS Pharmaceuticals in the 1st quarter worth approximately $140,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ARS Pharmaceuticals by 13.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,840 shares of the company’s stock worth $3,520,000 after buying an additional 32,526 shares in the last quarter. JPMorgan Chase & Co. lifted its position in ARS Pharmaceuticals by 7.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 34,560 shares of the company’s stock worth $603,000 after buying an additional 2,357 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in ARS Pharmaceuticals by 55.1% in the 2nd quarter. Legal & General Group Plc now owns 54,825 shares of the company’s stock worth $957,000 after buying an additional 19,484 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SPRY. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 25th. Northland Securities started coverage on shares of ARS Pharmaceuticals in a report on Thursday, April 9th. They set an “outperform” rating and a $25.00 target price for the company. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Leerink Partners set a $26.00 target price on shares of ARS Pharmaceuticals and gave the stock an “outperform” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings upgraded shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ARS Pharmaceuticals has a consensus rating of “Moderate Buy” and an average 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.