ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Up to $7.44

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.44, but opened at $7.78. ARS Pharmaceuticals shares last traded at $7.54, with a volume of 192,843 shares trading hands.

Analysts Set New Price Targets

Separately, Wedbush reaffirmed an “outperform” rating and set a $15.00 price target on shares of ARS Pharmaceuticals in a research note on Monday, August 14th.

ARS Pharmaceuticals Price Performance

The company has a 50-day simple moving average of $7.06 and a 200 day simple moving average of $6.98.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its earnings results on Thursday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The firm had revenue of $0.01 million for the quarter. On average, equities research analysts expect that ARS Pharmaceuticals, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In other news, Director Ra Capital Management, L.P. purchased 3,750,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $6.20 per share, for a total transaction of $23,250,000.00. Following the completion of the acquisition, the director now owns 5,856,774 shares of the company’s stock, valued at $36,311,998.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ra Capital Management, L.P. purchased 3,750,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average price of $6.20 per share, for a total transaction of $23,250,000.00. Following the completion of the purchase, the director now owns 5,856,774 shares in the company, valued at approximately $36,311,998.80. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Laura Shawver sold 100,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $7.71, for a total transaction of $771,000.00. Following the completion of the sale, the director now directly owns 210,346 shares of the company’s stock, valued at $1,621,767.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,208 shares of company stock valued at $1,552,313. 35.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new stake in ARS Pharmaceuticals during the 2nd quarter valued at $64,000. Wells Fargo & Company MN purchased a new stake in shares of ARS Pharmaceuticals during the 2nd quarter worth $64,000. Teacher Retirement System of Texas bought a new stake in ARS Pharmaceuticals during the second quarter valued at about $69,000. Arizona State Retirement System purchased a new position in ARS Pharmaceuticals in the second quarter valued at about $71,000. Finally, American International Group Inc. bought a new position in ARS Pharmaceuticals in the second quarter worth about $78,000. 57.41% of the stock is currently owned by institutional investors.

ARS Pharmaceuticals Company Profile

ARS Pharmaceuticals, Inc, a biopharmaceutical company, develops treatments for patients and parents affected by severe allergic reactions. It is developing neffy, a needle-free and low-dose intranasal epinephrine nasal spray for patients and their caregivers with type I allergic reactions, including anaphylaxis.