Justin Chakma Sells 32,814 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 32,814 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.00, for a total transaction of $459,396.00. Following the sale, the insider now owns 203,566 shares in the company, valued at approximately $2,849,924. The trade was a 13.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Justin Chakma also recently made the following trade(s):

• On Wednesday, November 27th, Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.39, for a total transaction of $359,750.00.

ARS Pharmaceuticals Stock Performance

NASDAQ:SPRY traded up $0.16 during mid-day trading on Wednesday, hitting $14.53. The stock had a trading volume of 674,132 shares, compared to its average volume of 816,102. The company’s 50 day simple moving average is $14.82 and its 200 day simple moving average is $11.97. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -28.18 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a twelve month low of $4.65 and a twelve month high of $18.51.

Institutional Trading of ARS Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after purchasing an additional 779,969 shares during the period. SG Americas Securities LLC grew its stake in ARS Pharmaceuticals by 861.5% in the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after buying an additional 99,986 shares during the last quarter. First Turn Management LLC bought a new position in ARS Pharmaceuticals in the 3rd quarter valued at about $8,603,000. Allspring Global Investments Holdings LLC acquired a new stake in ARS Pharmaceuticals during the third quarter worth approximately $2,584,000. Finally, Royce & Associates LP boosted its holdings in shares of ARS Pharmaceuticals by 7.1% during the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after acquiring an additional 45,755 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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