Insider Selling: ARS Pharmaceuticals (NASDAQ:SPRY) Insider Sells 166,380 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 166,380 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $8.87, for a total transaction of $1,475,790.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ARS Pharmaceuticals Stock Down 2.4%

NASDAQ:SPRY traded down $0.20 during trading hours on Friday, reaching $8.21. 1,960,687 shares of the company were exchanged, compared to its average volume of 2,013,188. The business has a 50 day moving average of $9.78 and a 200 day moving average of $13.43. ARS Pharmaceuticals, Inc. has a 1-year low of $8.05 and a 1-year high of $18.90. The company has a current ratio of 6.66, a quick ratio of 5.98 and a debt-to-equity ratio of 1.14.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.07). ARS Pharmaceuticals had a negative return on equity of 38.77% and a negative net margin of 56.06%.The company had revenue of $32.50 million during the quarter, compared to the consensus estimate of $28.87 million. On average, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SPRY. Nisa Investment Advisors LLC increased its stake in shares of ARS Pharmaceuticals by 10.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,281 shares of the company’s stock valued at $110,000 after acquiring an additional 590 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in ARS Pharmaceuticals by 16.1% in the second quarter. Ameritas Investment Partners Inc. now owns 5,598 shares of the company’s stock worth $98,000 after purchasing an additional 777 shares during the period. Matisse Capital increased its stake in ARS Pharmaceuticals by 1.8% in the second quarter. Matisse Capital now owns 56,714 shares of the company’s stock valued at $990,000 after purchasing an additional 1,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ARS Pharmaceuticals by 3.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,994 shares of the company’s stock valued at $596,000 after purchasing an additional 1,234 shares during the period. Finally, Profund Advisors LLC raised its holdings in shares of ARS Pharmaceuticals by 8.0% during the second quarter. Profund Advisors LLC now owns 17,088 shares of the company’s stock valued at $298,000 after purchasing an additional 1,264 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPRY has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ARS Pharmaceuticals in a report on Wednesday, October 8th. Raymond James Financial set a $32.00 price objective on ARS Pharmaceuticals in a research report on Friday, September 26th. Zacks Research cut ARS Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 22nd. Wall Street Zen downgraded ARS Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Roth Capital started coverage on shares of ARS Pharmaceuticals in a research note on Tuesday, November 4th. They issued a “buy” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

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.