ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal Sells 100,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $13.83, for a total value of $1,383,000.00. Following the transaction, the chief executive officer now directly owns 1,346,494 shares of the company’s stock, valued at approximately $18,622,012.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

ARS Pharmaceuticals Price Performance

NASDAQ:SPRY opened at $13.91 on Friday. The company has a 50 day simple moving average of $12.93 and a two-hundred day simple moving average of $10.56. ARS Pharmaceuticals, Inc. has a fifty-two week low of $3.35 and a fifty-two week high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $2.00 million. As a group, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Institutional Trading of ARS Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after purchasing an additional 779,969 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of ARS Pharmaceuticals in the 1st quarter worth $2,790,000. SG Americas Securities LLC lifted its holdings in shares of ARS Pharmaceuticals by 861.5% in the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after purchasing an additional 99,986 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of ARS Pharmaceuticals by 11.7% in the 1st quarter. GSA Capital Partners LLP now owns 128,889 shares of the company’s stock worth $1,317,000 after purchasing an additional 13,545 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ARS Pharmaceuticals by 99.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock worth $1,185,000 after purchasing an additional 69,394 shares in the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.

Wall Street Analyst Weigh In

SPRY has been the subject of several research analyst reports. William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday. 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 note on Friday, September 20th. Finally, Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.