Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) COO Sells 25,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) COO Brian Dorsey sold 25,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $12.30, for a total value of $307,500.00. Following the completion of the transaction, the chief operating officer now directly owns 6,024 shares of the company’s stock, valued at approximately $74,095.20. This trade represents a 80.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ARS Pharmaceuticals Trading Down 5.9 %

NASDAQ SPRY opened at $11.90 on Monday. The business’s 50-day moving average price is $14.62 and its 200 day moving average price is $12.39. ARS Pharmaceuticals, Inc. has a twelve month low of $5.02 and a twelve month high of $18.51. The company has a market capitalization of $1.16 billion, a PE ratio of -23.33 and a beta of 0.88.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in ARS Pharmaceuticals in the third quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ARS Pharmaceuticals by 151.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after purchasing an additional 4,472 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of ARS Pharmaceuticals during the 2nd quarter valued at $87,000. J.W. Cole Advisors Inc. increased its holdings in shares of ARS Pharmaceuticals by 10.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after buying an additional 1,500 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth $174,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SPRY. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Finally, Leerink Partners boosted 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 equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ARS Pharmaceuticals has an average rating of “Buy” and a consensus target price of $24.00.

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.