Justin Chakma Sells 166,380 Shares of ARS Pharmaceuticals (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 166,380 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total value of $1,475,790.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ARS Pharmaceuticals Stock Down 2.4%

ARS Pharmaceuticals stock opened at $8.21 on Friday. The company has a market capitalization of $811.56 million, a PE ratio of -10.14 and a beta of 0.83. ARS Pharmaceuticals, Inc. has a 12-month low of $8.05 and a 12-month high of $18.90. The firm’s fifty day moving average is $9.75 and its 200 day moving average is $13.38. The company has a quick ratio of 5.98, a current ratio of 6.66 and a debt-to-equity ratio of 1.14.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $32.50 million during the quarter, compared to the consensus estimate of $28.87 million. As a group, sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On ARS Pharmaceuticals

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

Analyst Ratings Changes

SPRY has been the topic of a number of research reports. Raymond James Financial set a $32.00 price target on ARS Pharmaceuticals in a research note on Friday, September 26th. Wall Street Zen lowered ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Zacks Research cut ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Roth Capital began coverage on shares of ARS Pharmaceuticals in a research note on Tuesday, November 4th. They set a “buy” rating and a $30.00 price target for the company. Finally, Weiss Ratings restated 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 given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.80.

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.