ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal Sells 100,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total value of $1,293,000.00. Following the completion of the transaction, the chief executive officer now owns 1,398,499 shares in the company, valued at approximately $18,082,592.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ARS Pharmaceuticals Price Performance

Shares of SPRY opened at $14.86 on Friday. The company has a market capitalization of $1.44 billion, a P/E ratio of -28.58 and a beta of 0.90. The business’s 50 day simple moving average is $11.88 and its 200-day simple moving average is $9.97. ARS Pharmaceuticals, Inc. has a one year low of $2.55 and a one year high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $2.00 million. On average, sell-side analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPRY. Russell Investments Group Ltd. acquired a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after purchasing an additional 4,472 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of ARS Pharmaceuticals in the 2nd quarter valued at approximately $87,000. Paloma Partners Management Co acquired a new stake in ARS Pharmaceuticals in the first quarter valued at $103,000. Finally, SG Americas Securities LLC acquired a new stake in ARS Pharmaceuticals in the 1st quarter valued at about $119,000. 68.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SPRY has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Monday. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $22.75.

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.