ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells $711,500.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $14.23, for a total transaction of $711,500.00. Following the sale, the insider now owns 136,380 shares in the company, valued at $1,940,687.40. The trade was a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, December 3rd, Justin Chakma sold 45,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $13.19, for a total value of $593,550.00.
• On Wednesday, November 27th, Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.39, for a total transaction of $359,750.00.
• On Monday, November 25th, Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.00, for a total value of $459,396.00.

ARS Pharmaceuticals Stock Performance

SPRY stock opened at $14.02 on Monday. ARS Pharmaceuticals, Inc. has a one year low of $5.01 and a one year high of $18.51. The company has a market capitalization of $1.36 billion, a PE ratio of -27.49 and a beta of 0.88. The company’s 50 day moving average price is $14.79 and its two-hundred day moving average price is $12.26.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. 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. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Leerink Partners upped their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Finally, William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $24.00.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in ARS Pharmaceuticals during the third quarter valued at about $30,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ARS Pharmaceuticals by 151.7% during the 2nd 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 during the period. Principal Financial Group Inc. bought a new position in ARS Pharmaceuticals during the 2nd quarter worth approximately $87,000. Quarry LP purchased a new position in ARS Pharmaceuticals in the 3rd quarter worth approximately $174,000. Finally, TFG Advisers LLC bought a new stake in ARS Pharmaceuticals in the third quarter valued at approximately $180,000. Hedge funds and other 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.