ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Down 8.2% – Should You Sell?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s stock price fell 8.2% on Friday . The company traded as low as $5.18 and last traded at $5.17. 1,306,743 shares traded hands during trading, a decline of 24% from the average daily volume of 1,726,126 shares. The stock had previously closed at $5.63.

Analyst Ratings Changes

SPRY has been the subject of several recent analyst reports. 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 boosted their target price on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Northland Securities began coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Leerink Partners dropped their price objective on shares of ARS Pharmaceuticals from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, June 25th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.20.

ARS Pharmaceuticals Trading Down 8.3%

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 has a market capitalization of $512.88 million, a P/E ratio of -2.57 and a beta of 0.95. The firm’s 50-day moving average price is $8.24 and its 200 day moving average price is $8.69.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%.The company had revenue of $22.68 million during the quarter, compared to analysts’ expectations of $22.20 million. As a group, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -1.95 earnings per share for the current year.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Eric Karas sold 25,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the sale, the insider directly owned 12,176 shares of the company’s stock, valued at $121,760. This trade represents a 67.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander A. Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total value of $33,550.00. Following the completion of the sale, the insider directly owned 90,910 shares of the company’s stock, valued at approximately $909,100. This trade represents a 3.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 33.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rubric Capital Management LP increased its holdings in shares of ARS Pharmaceuticals by 29.0% in the 1st 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 during the last quarter. Aberdeen Group plc lifted its stake in shares of ARS Pharmaceuticals by 14.8% in the 4th quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after acquiring an additional 459,027 shares during the last quarter. Vanguard Group Inc. lifted its position in ARS Pharmaceuticals by 7.3% in the third quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after purchasing an additional 237,630 shares during the last quarter. State Street Corp boosted its position in ARS Pharmaceuticals by 11.3% during the 4th quarter. State Street Corp now owns 3,223,581 shares of the company’s stock valued at $37,555,000 after buying an additional 328,325 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of ARS Pharmaceuticals in the fourth quarter worth about $36,912,000. 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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.