Eric Karas Sells 15,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $16.00, for a total value of $240,000.00. Following the sale, the insider now directly owns 7,696 shares in the company, valued at approximately $123,136. This trade represents a 66.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ARS Pharmaceuticals Stock Down 0.7%

NASDAQ SPRY opened at $15.80 on Friday. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $14.37 and its two-hundred day moving average is $12.89. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -98.74 and a beta of 0.84. ARS Pharmaceuticals, Inc. has a 1-year low of $7.55 and a 1-year high of $18.51.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). The company had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. ARS Pharmaceuticals had a negative return on equity of 6.94% and a negative net margin of 16.11%. Equities analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPRY has been the topic of a number of recent research reports. William Blair reissued an “outperform” rating on shares of ARS Pharmaceuticals in a research report on Monday, March 3rd. Scotiabank started coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a “sector outperform” rating and a $30.00 price objective on the stock. Finally, Wall Street Zen downgraded ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of ARS Pharmaceuticals by 93.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company’s stock worth $3,631,000 after acquiring an additional 165,950 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of ARS Pharmaceuticals by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company’s stock worth $440,000 after acquiring an additional 13,361 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of ARS Pharmaceuticals in the 4th quarter worth approximately $4,469,000. Vanguard Group Inc. boosted its holdings in shares of ARS Pharmaceuticals by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company’s stock worth $36,555,000 after acquiring an additional 115,656 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ARS Pharmaceuticals by 4.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company’s stock worth $636,000 after acquiring an additional 2,670 shares in the last quarter. 68.16% of the stock is owned by institutional investors and hedge funds.

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.