Insider Selling: ARS Pharmaceuticals (NASDAQ:SPRY) Insider Sells 166,380 Shares of Stock

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

ARS Pharmaceuticals Stock Down 2.4%

Shares of SPRY traded down $0.20 on Friday, reaching $8.21. The company’s stock had a trading volume of 1,960,687 shares, compared to its average volume of 2,013,188. ARS Pharmaceuticals, Inc. has a twelve month low of $8.05 and a twelve month high of $18.90. The company has a current ratio of 6.66, a quick ratio of 5.98 and a debt-to-equity ratio of 1.14. The firm has a fifty day moving average of $9.78 and a 200-day moving average of $13.43.

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

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in ARS Pharmaceuticals by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 132,213 shares of the company’s stock valued at $1,663,000 after buying an additional 1,975 shares in the last quarter. FAS Wealth Partners Inc. boosted its position in shares of ARS Pharmaceuticals by 47.3% in the first quarter. FAS Wealth Partners Inc. now owns 139,535 shares of the company’s stock valued at $1,755,000 after acquiring an additional 44,830 shares during the period. Legato Capital Management LLC grew its stake in ARS Pharmaceuticals by 350.1% during the first quarter. Legato Capital Management LLC now owns 96,591 shares of the company’s stock valued at $1,215,000 after acquiring an additional 75,130 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in ARS Pharmaceuticals during the 1st quarter worth approximately $37,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in ARS Pharmaceuticals in the 1st quarter worth approximately $543,000. Institutional investors own 68.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research lowered ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Raymond James Financial set a $32.00 target price on ARS Pharmaceuticals in a research report on Friday, September 26th. Roth Capital initiated coverage on shares of ARS Pharmaceuticals in a report on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target on the stock. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ARS Pharmaceuticals in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.80.

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.