ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Sells $868,835.04 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 95,267 shares of ARS Pharmaceuticals stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $9.12, for a total transaction of $868,835.04. Following the sale, the chief executive officer now directly owns 1,697,447 shares in the company, valued at approximately $15,480,716.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ARS Pharmaceuticals Stock Up 2.6 %

Shares of ARS Pharmaceuticals stock opened at $10.22 on Friday. ARS Pharmaceuticals, Inc. has a 52 week low of $2.55 and a 52 week high of $11.27. The firm’s 50 day moving average is $7.84 and its two-hundred day moving average is $5.83. The firm has a market capitalization of $986.23 million, a P/E ratio of -17.93 and a beta of 0.78.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SPRY. William Blair upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 20th. SVB Leerink raised shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $6.00 to $18.00 in a research report on Tuesday, March 5th. Leerink Partnrs upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 5th. Finally, Wedbush restated an “outperform” rating and issued a $19.00 price target on shares of ARS Pharmaceuticals in a research note on Monday, March 11th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in ARS Pharmaceuticals by 12.7% in the third quarter. Legal & General Group Plc now owns 28,157 shares of the company’s stock valued at $106,000 after acquiring an additional 3,178 shares during the last quarter. Creative Planning increased its position in shares of ARS Pharmaceuticals by 11.7% during the fourth quarter. Creative Planning now owns 31,201 shares of the company’s stock worth $171,000 after purchasing an additional 3,270 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ARS Pharmaceuticals by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 329,550 shares of the company’s stock valued at $1,806,000 after purchasing an additional 5,147 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of ARS Pharmaceuticals by 11.1% in the 3rd quarter. American Century Companies Inc. now owns 51,521 shares of the company’s stock valued at $195,000 after purchasing an additional 5,153 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of ARS Pharmaceuticals by 22,300.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock valued at $31,000 after purchasing an additional 5,575 shares during the period. Institutional investors and hedge funds own 68.16% of the company’s stock.

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.