Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells 100,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Sarina Tanimoto sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $11.67, for a total value of $1,167,000.00. Following the completion of the transaction, the insider now directly owns 1,098,499 shares in the company, valued at approximately $12,819,483.33. This represents a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, December 10th, Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $13.16, for a total value of $1,316,000.00.
• On Tuesday, October 15th, Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.88, for a total transaction of $1,488,000.00.

ARS Pharmaceuticals Trading Up 3.3 %

Shares of NASDAQ:SPRY traded up $0.36 on Thursday, hitting $11.32. 1,263,823 shares of the company were exchanged, compared to its average volume of 831,711. The stock’s 50 day moving average price is $14.49 and its 200 day moving average price is $12.42. ARS Pharmaceuticals, Inc. has a 1-year low of $5.02 and a 1-year high of $18.51. The firm has a market capitalization of $1.10 billion, a P/E ratio of -22.20 and a beta of 0.88.

Hedge Funds Weigh In On ARS Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its holdings in shares of ARS Pharmaceuticals by 10.4% during the third quarter. State Street Corp now owns 2,049,542 shares of the company’s stock worth $29,718,000 after purchasing an additional 193,321 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ARS Pharmaceuticals by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after buying an additional 38,927 shares during the period. Royce & Associates LP boosted its stake in shares of ARS Pharmaceuticals by 7.1% in the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after buying an additional 45,755 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after acquiring an additional 288,021 shares in the last quarter. Finally, First Turn Management LLC acquired a new position in ARS Pharmaceuticals in the third quarter valued at approximately $8,603,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SPRY shares. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Finally, Leerink Partners upped their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.