ARS Pharmaceuticals (NASDAQ:SPRY) Insider Sarina Tanimoto Sells 12,344 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Sarina Tanimoto sold 12,344 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $14.03, for a total transaction of $173,186.32. Following the completion of the transaction, the insider owned 1,285,103 shares of the company’s stock, valued at $18,029,995.09. This trade represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Sarina Tanimoto also recently made the following trade(s):

• On Wednesday, August 20th, Sarina Tanimoto sold 37,656 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.09, for a total transaction of $530,573.04.

ARS Pharmaceuticals Stock Performance

NASDAQ SPRY opened at $13.50 on Friday. The company has a 50-day simple moving average of $16.80 and a two-hundred day simple moving average of $14.35. The company has a quick ratio of 5.98, a current ratio of 6.17 and a debt-to-equity ratio of 0.37. ARS Pharmaceuticals, Inc. has a 12-month low of $10.00 and a 12-month high of $18.90. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -27.55 and a beta of 0.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.05). ARS Pharmaceuticals had a negative net margin of 42.74% and a negative return on equity of 21.85%. The business had revenue of $15.72 million for the quarter, compared to analysts’ expectations of $12.92 million. On average, equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $31.00.

Institutional Trading of ARS Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Alliancebernstein L.P. grew its stake in shares of ARS Pharmaceuticals by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company’s stock worth $49,349,000 after buying an additional 42,071 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of ARS Pharmaceuticals by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,488,293 shares of the company’s stock worth $43,883,000 after buying an additional 23,341 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of ARS Pharmaceuticals in the 2nd quarter worth approximately $30,154,000. Cormorant Asset Management LP increased its position in shares of ARS Pharmaceuticals by 220.0% during the first quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company’s stock valued at $20,128,000 after acquiring an additional 1,100,000 shares in the last quarter. Finally, Aberdeen Group plc increased its position in shares of ARS Pharmaceuticals by 49.9% during the second quarter. Aberdeen Group plc now owns 1,502,575 shares of the company’s stock valued at $26,220,000 after acquiring an additional 499,916 shares in the last quarter. 68.16% of the stock is owned by institutional investors.

About ARS Pharmaceuticals

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.