ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Down 3.4% Following Insider Selling

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price traded down 3.4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $8.74 and last traded at $8.75. 235,142 shares changed hands during trading, a decline of 62% from the average session volume of 612,290 shares. The stock had previously closed at $9.06.

Specifically, Director Ra Capital Management, L.P. acquired 505,954 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were purchased at an average price of $9.79 per share, with a total value of $4,953,289.66. Following the completion of the acquisition, the director now owns 9,958,073 shares in the company, valued at $97,489,534.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ARS Pharmaceuticals news, CEO Richard E. Lowenthal sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $9.28, for a total transaction of $928,000.00. Following the completion of the transaction, the chief executive officer now owns 1,646,494 shares in the company, valued at $15,279,464.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ra Capital Management, L.P. bought 505,954 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were acquired at an average price of $9.79 per share, with a total value of $4,953,289.66. Following the transaction, the director now owns 9,958,073 shares of the company’s stock, valued at approximately $97,489,534.67. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 503,260 shares of company stock valued at $4,612,480. Corporate insiders own 35.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Leerink Partnrs raised shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 5th. SVB Leerink raised shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $6.00 to $18.00 in a research report on Tuesday, March 5th. Wedbush reiterated an “outperform” rating and set a $19.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. Finally, William Blair upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 20th.

ARS Pharmaceuticals Trading Down 4.1 %

The company’s fifty day simple moving average is $8.69 and its two-hundred day simple moving average is $6.23.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.07. Sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Charles Schwab Trust Co acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth approximately $16,050,000. RA Capital Management L.P. grew its stake in shares of ARS Pharmaceuticals by 214.3% in the 3rd quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock worth $35,758,000 after purchasing an additional 6,450,000 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of ARS Pharmaceuticals by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,105 shares of the company’s stock worth $61,000 after purchasing an additional 8,652 shares during the last quarter. Barclays PLC acquired a new position in shares of ARS Pharmaceuticals in the 2nd quarter worth approximately $138,000. Finally, Denali Advisors LLC acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $480,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

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.