ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Down 2.5%

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price was down 2.5% during trading on Tuesday . The company traded as low as $13.74 and last traded at $13.74. Approximately 43,073 shares were traded during trading, a decline of 94% from the average daily volume of 748,385 shares. The stock had previously closed at $14.09.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SPRY. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Raymond James upgraded shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, August 13th. Leerink Partners lifted their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $24.00.

ARS Pharmaceuticals Trading Down 4.0 %

The company’s fifty day simple moving average is $12.07 and its 200 day simple moving average is $10.10. The stock has a market capitalization of $1.31 billion, a P/E ratio of -27.10 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. Equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Brian Dorsey sold 50,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $15.00, for a total value of $750,000.00. Following the completion of the transaction, the chief operating officer now owns 6,024 shares of the company’s stock, valued at approximately $90,360. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kathleen D. Scott sold 12,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $16.00, for a total value of $200,000.00. Following the completion of the sale, the chief financial officer now directly owns 13,199 shares in the company, valued at approximately $211,184. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Dorsey sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $15.00, for a total value of $750,000.00. Following the sale, the chief operating officer now directly owns 6,024 shares of the company’s stock, valued at approximately $90,360. The disclosure for this sale can be found here. Insiders sold 1,043,395 shares of company stock valued at $13,650,032 over the last quarter. 40.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Large investors have recently made changes to their positions in the business. J.W. Cole Advisors Inc. boosted its stake in ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock valued at $131,000 after buying an additional 1,500 shares during the last quarter. Levin Capital Strategies L.P. increased its position in ARS Pharmaceuticals by 5.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock valued at $565,000 after purchasing an additional 3,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $63,000 after buying an additional 4,472 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of ARS Pharmaceuticals in the 1st quarter worth $60,000. Finally, FAS Wealth Partners Inc. lifted its position in shares of ARS Pharmaceuticals by 11.9% during the second quarter. FAS Wealth Partners Inc. now owns 67,656 shares of the company’s stock valued at $576,000 after buying an additional 7,186 shares during the last quarter. 68.16% of the stock is currently owned by hedge funds and other 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.