Justin Chakma Sells 25,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 25,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $14.39, for a total transaction of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares in the company, valued at approximately $1,962,508.20. This trade represents a 15.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Justin Chakma also recently made the following trade(s):

• On Monday, November 25th, Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.00, for a total transaction of $459,396.00.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY traded up $0.16 during mid-day trading on Wednesday, reaching $14.53. The company had a trading volume of 674,132 shares, compared to its average volume of 816,102. The stock has a fifty day moving average of $14.82 and a two-hundred day moving average of $11.97. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -28.18 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 12-month low of $4.65 and a 12-month high of $18.51.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SPRY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $18.00 to $22.00 in a research note on Tuesday, August 13th. William Blair upgraded shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Leerink Partners raised their price objective on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $24.00.

Institutional Trading of ARS Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in shares of ARS Pharmaceuticals in the third quarter worth approximately $30,000. Russell Investments Group Ltd. bought a new position in ARS Pharmaceuticals during the first quarter valued at approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after acquiring an additional 4,472 shares in the last quarter. Principal Financial Group Inc. bought a new position in ARS Pharmaceuticals during the second quarter valued at approximately $87,000. Finally, J.W. Cole Advisors Inc. raised its position in ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock valued at $131,000 after acquiring an additional 1,500 shares in the last quarter. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.