Brian Dorsey Sells 21,828 Shares of ARS Pharmaceuticals (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) COO Brian Dorsey sold 21,828 shares of ARS Pharmaceuticals stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $8.71, for a total transaction of $190,121.88. Following the sale, the chief operating officer owned 10,789 shares of the company’s stock, valued at approximately $93,972.19. The trade was a 66.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ARS Pharmaceuticals Stock Down 2.4%

NASDAQ:SPRY opened at $8.21 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 6.66 and a quick ratio of 5.98. The company’s fifty day moving average price is $9.75 and its 200-day moving average price is $13.38. ARS Pharmaceuticals, Inc. has a 1-year low of $8.05 and a 1-year high of $18.90. The firm has a market capitalization of $811.56 million, a P/E ratio of -10.14 and a beta of 0.83.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Monday, November 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative net margin of 56.06% and a negative return on equity of 38.77%. The business had revenue of $32.50 million for the quarter, compared to analyst estimates of $28.87 million. As a group, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Analysts Set New Price Targets

SPRY has been the topic of a number of recent research reports. Zacks Research downgraded ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 22nd. Wall Street Zen downgraded ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Roth Capital started coverage on ARS Pharmaceuticals in a research report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price objective on the stock. Raymond James Financial set a $32.00 target price on shares of ARS Pharmaceuticals in a report on Friday, September 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its holdings in shares of ARS Pharmaceuticals by 10.4% during the second quarter. Nisa Investment Advisors LLC now owns 6,281 shares of the company’s stock worth $110,000 after buying an additional 590 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of ARS Pharmaceuticals by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock worth $98,000 after buying an additional 777 shares in the last quarter. Matisse Capital boosted its position in ARS Pharmaceuticals by 1.8% during the second quarter. Matisse Capital now owns 56,714 shares of the company’s stock worth $990,000 after acquiring an additional 1,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ARS Pharmaceuticals by 3.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock valued at $596,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in ARS Pharmaceuticals by 8.0% in the 2nd quarter. Profund Advisors LLC now owns 17,088 shares of the company’s stock valued at $298,000 after acquiring an additional 1,264 shares during the last quarter. 68.16% of the stock is owned by institutional investors and hedge funds.

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.