ARS Pharmaceuticals (NASDAQ:SPRY) Shares Down 2.8% – What’s Next?

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) traded down 2.8% during mid-day trading on Monday . The company traded as low as $10.82 and last traded at $10.88. 51,152 shares were traded during trading, a decline of 95% from the average session volume of 1,019,405 shares. The stock had previously closed at $11.19.

Analyst Ratings Changes

A number of brokerages have weighed in on SPRY. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Leerink Partners raised their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report 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 company. According to MarketBeat, ARS Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $24.00.

ARS Pharmaceuticals Price Performance

The firm’s 50 day moving average price is $13.23 and its 200-day moving average price is $12.68. The stock has a market cap of $1.11 billion, a P/E ratio of -22.41 and a beta of 0.96.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, CFO Kathleen D. Scott sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $16.00, for a total transaction of $200,000.00. Following the sale, the chief financial officer now owns 4,949 shares of the company’s stock, valued at $79,184. This trade represents a 71.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Laura Shawver sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.10, for a total transaction of $555,000.00. Following the transaction, the director now directly owns 210,346 shares of the company’s stock, valued at $2,334,840.60. The trade was a 19.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,208,058 shares of company stock worth $18,541,686. Insiders own 40.10% of the company’s stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of SPRY. Barclays PLC increased its position in ARS Pharmaceuticals by 189.7% during the third quarter. Barclays PLC now owns 111,666 shares of the company’s stock valued at $1,618,000 after acquiring an additional 73,127 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after purchasing an additional 38,927 shares during the period. XTX Topco Ltd purchased a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $250,000. Wellington Management Group LLP lifted its stake in shares of ARS Pharmaceuticals by 38.9% in the 3rd quarter. Wellington Management Group LLP now owns 162,335 shares of the company’s stock worth $2,354,000 after purchasing an additional 45,452 shares during the period. Finally, Wexford Capital LP purchased a new position in shares of ARS Pharmaceuticals in the third quarter worth approximately $3,601,000. 68.16% of the stock is owned by 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.