Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Major Shareholder Sells 528,456 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) major shareholder James E. Flynn sold 528,456 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $18.04, for a total value of $9,533,346.24. Following the transaction, the insider now owns 5,274,735 shares in the company, valued at $95,156,219.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

ARS Pharmaceuticals Price Performance

Shares of NASDAQ:SPRY traded down $2.53 during midday trading on Wednesday, hitting $14.08. 3,181,176 shares of the company’s stock were exchanged, compared to its average volume of 802,997. ARS Pharmaceuticals, Inc. has a 12 month low of $4.01 and a 12 month high of $18.51. The company has a market cap of $1.36 billion, a PE ratio of -31.60 and a beta of 0.90. The stock has a 50 day moving average price of $14.49 and a 200-day moving average price of $11.64.

Institutional Trading of ARS Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. grew its holdings in ARS Pharmaceuticals by 14.8% during the first quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock worth $110,999,000 after buying an additional 1,401,299 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after acquiring an additional 779,969 shares in the last quarter. First Turn Management LLC bought a new stake in shares of ARS Pharmaceuticals in the 3rd quarter worth $8,603,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of ARS Pharmaceuticals by 1,280.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after purchasing an additional 257,589 shares during the last quarter. Finally, Raymond James & Associates bought a new position in shares of ARS Pharmaceuticals during the third quarter valued at about $2,969,000. 68.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James raised shares of ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. Finally, Leerink Partners upped their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.00.

ARS Pharmaceuticals Company Profile

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.