ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) COO Sells $307,500.00 in Stock

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 sale, the chief operating officer now owns 6,024 shares in the company, valued at $74,095.20. The trade was a 80.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ARS Pharmaceuticals Trading Down 5.9 %

Shares of NASDAQ SPRY opened at $11.90 on Friday. ARS Pharmaceuticals, Inc. has a 12-month low of $5.02 and a 12-month high of $18.51. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -23.33 and a beta of 0.88. The stock’s 50 day simple moving average is $14.62 and its 200 day simple moving average is $12.37.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently added to or reduced their stakes in SPRY. J.W. Cole Advisors Inc. increased its holdings in shares of ARS Pharmaceuticals by 10.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company’s stock worth $131,000 after acquiring an additional 1,500 shares during the period. nVerses Capital LLC bought a new position in ARS Pharmaceuticals in the 3rd quarter worth about $30,000. Creative Planning increased its stake in shares of ARS Pharmaceuticals by 7.0% in the third quarter. Creative Planning now owns 35,263 shares of the company’s stock valued at $511,000 after purchasing an additional 2,307 shares during the period. HighTower Advisors LLC raised its holdings in shares of ARS Pharmaceuticals by 18.2% during the third quarter. HighTower Advisors LLC now owns 28,310 shares of the company’s stock valued at $411,000 after buying an additional 4,369 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ARS Pharmaceuticals by 151.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock worth $63,000 after buying an additional 4,472 shares during the period. 68.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPRY has been the subject of a number of research analyst reports. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners boosted their target price on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Four research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.