ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Down 3.1%

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) were down 3.1% on Tuesday . The stock traded as low as $8.11 and last traded at $8.15. Approximately 24,427 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 541,903 shares. The stock had previously closed at $8.41.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SPRY shares. Wedbush reissued an “outperform” rating and issued a $19.00 price target on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. William Blair raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 20th. Leerink Partnrs raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 5th. Finally, SVB Leerink raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $6.00 to $18.00 in a research note on Tuesday, March 5th.

ARS Pharmaceuticals Stock Down 4.3 %

The company has a 50-day moving average of $8.92 and a 200-day moving average of $7.73. The company has a market cap of $779.96 million, a PE ratio of -15.67 and a beta of 0.88.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). As a group, equities analysts predict that ARS Pharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Buying and Selling

In other ARS Pharmaceuticals news, Director Ra Capital Management, L.P. bought 505,954 shares of ARS Pharmaceuticals stock in a transaction that occurred on Wednesday, March 27th. The stock was acquired at an average cost of $9.79 per share, for a total transaction of $4,953,289.66. Following the completion of the transaction, the director now directly owns 9,958,073 shares in the company, valued at $97,489,534.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ra Capital Management, L.P. acquired 505,954 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was purchased at an average cost of $9.79 per share, for a total transaction of $4,953,289.66. Following the acquisition, the director now owns 9,958,073 shares of the company’s stock, valued at $97,489,534.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard E. Lowenthal sold 4,138 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.00, for a total value of $37,242.00. Following the completion of the transaction, the chief executive officer now owns 1,594,328 shares of the company’s stock, valued at $14,348,952. The disclosure for this sale can be found here. Insiders sold a total of 598,082 shares of company stock worth $5,504,257 over the last ninety days. 40.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SPRY. Virtu Financial LLC bought a new position in ARS Pharmaceuticals during the 1st quarter valued at approximately $206,000. RA Capital Management L.P. raised its position in ARS Pharmaceuticals by 14.8% during the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock valued at $110,999,000 after purchasing an additional 1,401,299 shares during the last quarter. Levin Capital Strategies L.P. raised its position in ARS Pharmaceuticals by 5.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 55,250 shares of the company’s stock valued at $565,000 after purchasing an additional 3,000 shares during the last quarter. AWM Investment Company Inc. bought a new position in ARS Pharmaceuticals during the 1st quarter valued at approximately $1,022,000. Finally, Jacobs Levy Equity Management Inc. raised its position in ARS Pharmaceuticals by 1,280.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after purchasing an additional 257,589 shares during the last quarter. Institutional investors 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.