ARS Pharmaceuticals (NASDAQ:SPRY) Insider Sells $33,550.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Alexander Fitzpatrick sold 3,355 shares of the business’s stock in a transaction on 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 sale, the insider owned 90,910 shares of the company’s stock, valued at $909,100. The trade was a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock opened at $9.76 on Monday. The firm has a fifty day simple moving average of $8.42 and a 200-day simple moving average of $9.34. The company has a current ratio of 4.94, a quick ratio of 4.77 and a debt-to-equity ratio of 2.79. ARS Pharmaceuticals, Inc. has a 1-year low of $6.66 and a 1-year high of $18.90. The stock has a market capitalization of $969.17 million, a price-to-earnings ratio of -4.86 and a beta of 0.94.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.08). ARS Pharmaceuticals had a negative return on equity of 153.61% and a negative net margin of 200.00%.The firm had revenue of $22.68 million during the quarter, compared to analyst estimates of $22.20 million. On average, sell-side analysts expect that ARS Pharmaceuticals, Inc. will post -1.89 earnings per share for the current year.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Rubric Capital Management LP raised its stake in ARS Pharmaceuticals by 29.0% during the 1st quarter. Rubric Capital Management LP now owns 8,000,000 shares of the company’s stock valued at $64,240,000 after purchasing an additional 1,800,000 shares during the last quarter. Aberdeen Group plc raised its stake in ARS Pharmaceuticals by 14.8% during the 4th quarter. Aberdeen Group plc now owns 3,556,049 shares of the company’s stock valued at $41,428,000 after purchasing an additional 459,027 shares during the last quarter. Vanguard Group Inc. raised its stake in ARS Pharmaceuticals by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 3,500,303 shares of the company’s stock valued at $35,178,000 after purchasing an additional 237,630 shares during the last quarter. State Street Corp raised its stake in ARS Pharmaceuticals by 11.3% during the 4th quarter. State Street Corp now owns 3,223,581 shares of the company’s stock valued at $37,555,000 after purchasing an additional 328,325 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in ARS Pharmaceuticals during the 4th quarter valued at $36,912,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPRY has been the subject of a number of analyst reports. Zacks Research upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of ARS Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Leerink Partners set a $26.00 price objective on shares of ARS Pharmaceuticals and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded shares of ARS Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Finally, Cantor Fitzgerald boosted their price objective 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. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.60.

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