Alexander Fitzpatrick Sells 3,355 Shares of ARS Pharmaceuticals (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Alexander Fitzpatrick sold 3,355 shares of ARS Pharmaceuticals stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $10.00, for a total transaction of $33,550.00. Following the completion of the transaction, the insider owned 90,910 shares of the company’s stock, valued at $909,100. The trade was a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Price Performance

SPRY opened at $9.76 on Friday. The company has a market capitalization of $969.17 million, a price-to-earnings ratio of -4.86 and a beta of 0.94. The company has a quick ratio of 4.77, a current ratio of 4.94 and a debt-to-equity ratio of 2.79. The firm has a 50-day moving average price of $8.42 and a 200-day moving average price of $9.33. ARS Pharmaceuticals, Inc. has a twelve month low of $6.66 and a twelve month high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY) last posted its earnings results on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.08). The business had revenue of $22.68 million during the quarter, compared to analysts’ expectations of $22.20 million. ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%. Equities analysts expect that ARS Pharmaceuticals, Inc. will post -1.89 EPS for the current year.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Torren Management LLC bought a new stake in ARS Pharmaceuticals during the fourth quarter valued at approximately $32,000. Mirae Asset Global Investments Co. Ltd. lifted its position in ARS Pharmaceuticals by 25.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,803 shares of the company’s stock valued at $56,000 after purchasing an additional 982 shares during the last quarter. Bessemer Group Inc. lifted its position in ARS Pharmaceuticals by 3,102.1% during the first quarter. Bessemer Group Inc. now owns 7,525 shares of the company’s stock valued at $61,000 after purchasing an additional 7,290 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in ARS Pharmaceuticals during the fourth quarter valued at approximately $65,000. Finally, Russell Investments Group Ltd. lifted its position in ARS Pharmaceuticals by 197.5% during the third quarter. Russell Investments Group Ltd. now owns 6,668 shares of the company’s stock valued at $67,000 after purchasing an additional 4,427 shares during the last quarter. 68.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SPRY shares. Cantor Fitzgerald lifted their target price on shares of ARS Pharmaceuticals from $12.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Weiss Ratings raised shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Northland Securities started coverage on shares of ARS Pharmaceuticals in a research note on Thursday, April 9th. They set an “outperform” rating and a $25.00 price objective for the company. Leerink Partners set a $26.00 price objective on shares of ARS Pharmaceuticals and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Finally, Zacks Research raised shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.60.

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. ARS Pharmaceuticals, Inc was founded in 2015 and is headquartered in San Diego, California.