James E. Flynn Sells 528,456 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) major shareholder James E. Flynn sold 528,456 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $18.04, for a total transaction of $9,533,346.24. Following the completion of the sale, the insider now directly owns 5,274,735 shares of the company’s stock, valued at $95,156,219.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ARS Pharmaceuticals Stock Down 15.2 %

NASDAQ SPRY opened at $14.08 on Thursday. The firm’s 50 day moving average is $14.53 and its 200-day moving average is $11.65. The company has a market capitalization of $1.36 billion, a PE ratio of -29.96 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 12-month low of $4.01 and a 12-month high of $18.51.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. RA Capital Management L.P. boosted its stake in shares of ARS Pharmaceuticals by 14.8% during the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock worth $110,999,000 after buying an additional 1,401,299 shares during the last quarter. Vanguard Group Inc. increased its position in shares of ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after purchasing an additional 779,969 shares during the last quarter. First Turn Management LLC bought a new stake in shares of ARS Pharmaceuticals during the 3rd quarter worth approximately $8,603,000. Jacobs Levy Equity Management Inc. grew its stake in shares of ARS Pharmaceuticals by 1,280.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after buying an additional 257,589 shares in the last quarter. Finally, Raymond James & Associates acquired a new position in ARS Pharmaceuticals during the third quarter worth $2,969,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Leerink Partners boosted their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $24.00.

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.