Richard E. Lowenthal Sells 100,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $12.93, for a total transaction of $1,293,000.00. Following the transaction, the chief executive officer now owns 1,398,499 shares in the company, valued at approximately $18,082,592.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ARS Pharmaceuticals Stock Down 0.6 %

ARS Pharmaceuticals stock opened at $14.77 on Friday. ARS Pharmaceuticals, Inc. has a twelve month low of $2.75 and a twelve month high of $16.50. The company has a market capitalization of $1.43 billion, a P/E ratio of -28.40 and a beta of 0.90. The stock’s 50 day moving average is $11.96 and its 200 day moving average is $10.01.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $2.00 million. As a group, equities analysts expect that ARS Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new position in shares of ARS Pharmaceuticals in the first quarter worth approximately $60,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ARS Pharmaceuticals by 151.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after acquiring an additional 4,472 shares during the last quarter. Paloma Partners Management Co bought a new position in ARS Pharmaceuticals in the 1st quarter valued at approximately $103,000. Principal Financial Group Inc. purchased a new stake in ARS Pharmaceuticals during the 2nd quarter valued at $87,000. Finally, SG Americas Securities LLC purchased a new stake in ARS Pharmaceuticals during the 1st quarter valued at $119,000. 68.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SPRY has been the topic of a number of research analyst reports. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $18.00 to $22.00 in a report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research note on Monday, September 16th. Leerink Partners raised their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday. Finally, William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ARS Pharmaceuticals currently has an average rating of “Buy” and an average 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.