ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) COO Brian Dorsey Sells 25,000 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) COO Brian Dorsey sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $12.30, for a total value of $307,500.00. Following the completion of the sale, the chief operating officer now owns 6,024 shares in the company, valued at approximately $74,095.20. This represents a 80.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ARS Pharmaceuticals Trading Down 5.9 %

SPRY traded down $0.74 on Friday, reaching $11.90. The stock had a trading volume of 984,298 shares, compared to its average volume of 825,045. The business’s 50-day moving average price is $14.62 and its two-hundred day moving average price is $12.34. The company has a market cap of $1.16 billion, a P/E ratio of -23.33 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a 12-month low of $5.02 and a 12-month high of $18.51.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Leerink Partners lifted their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ARS Pharmaceuticals presently has an average rating of “Buy” and an average price target of $24.00.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SPRY. nVerses Capital LLC acquired a new stake in ARS Pharmaceuticals in the third quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ARS Pharmaceuticals by 151.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after buying an additional 4,472 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of ARS Pharmaceuticals during the 2nd quarter valued at approximately $87,000. Quarry LP acquired a new stake in ARS Pharmaceuticals in the 3rd quarter valued at $174,000. Finally, TFG Advisers LLC acquired a new position in ARS Pharmaceuticals during the third quarter worth $180,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

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.