ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Up to $8.05

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $8.05, but opened at $8.33. ARS Pharmaceuticals shares last traded at $8.16, with a volume of 43,645 shares.

Analysts Set New Price Targets

Several research firms recently commented on SPRY. Leerink Partnrs raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 5th. Wedbush reissued an “outperform” rating and set a $19.00 price target on shares of ARS Pharmaceuticals in a research report on Monday, March 11th. Finally, SVB Leerink raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their target price for the company from $6.00 to $18.00 in a research report on Tuesday, March 5th.

ARS Pharmaceuticals Price Performance

The stock has a fifty day moving average price of $8.75 and a two-hundred day moving average price of $7.85.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, sell-side analysts predict that ARS Pharmaceuticals, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 95,862 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $9.15, for a total value of $877,137.30. Following the completion of the transaction, the insider now owns 1,546,494 shares of the company’s stock, valued at $14,150,420.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Richard E. Lowenthal sold 5,147 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $9.05, for a total transaction of $46,580.35. Following the completion of the sale, the chief executive officer now directly owns 1,642,193 shares of the company’s stock, valued at $14,861,846.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sarina Tanimoto sold 95,862 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $9.15, for a total value of $877,137.30. Following the sale, the insider now directly owns 1,546,494 shares of the company’s stock, valued at $14,150,420.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 500,000 shares of company stock valued at $4,610,040. 40.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its stake in ARS Pharmaceuticals by 22,300.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock worth $31,000 after acquiring an additional 5,575 shares in the last quarter. AJOVista LLC bought a new position in ARS Pharmaceuticals in the 4th quarter worth approximately $43,000. Russell Investments Group Ltd. bought a new position in ARS Pharmaceuticals in the 1st quarter worth approximately $60,000. China Universal Asset Management Co. Ltd. increased its position in ARS Pharmaceuticals by 352.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,105 shares of the company’s stock worth $61,000 after buying an additional 8,652 shares during the period. Finally, Paloma Partners Management Co bought a new position in ARS Pharmaceuticals in the 1st quarter worth approximately $103,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.