ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Sells $928,000.00 in Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $9.28, for a total value of $928,000.00. Following the sale, the chief executive officer now owns 1,646,494 shares in the company, valued at $15,279,464.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ARS Pharmaceuticals Price Performance

Shares of ARS Pharmaceuticals stock opened at $9.02 on Friday. The business has a 50 day simple moving average of $8.53 and a two-hundred day simple moving average of $6.10. The stock has a market capitalization of $870.43 million, a P/E ratio of -15.82 and a beta of 0.83. ARS Pharmaceuticals, Inc. has a 12 month low of $2.55 and a 12 month high of $11.27.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPRY. RA Capital Management L.P. grew its holdings in shares of ARS Pharmaceuticals by 214.3% during the third quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock worth $35,758,000 after buying an additional 6,450,000 shares in the last quarter. Charles Schwab Trust Co acquired a new position in ARS Pharmaceuticals during the third quarter worth about $16,050,000. BlackRock Inc. purchased a new stake in ARS Pharmaceuticals during the 2nd quarter valued at about $15,148,000. Nantahala Capital Management LLC raised its holdings in ARS Pharmaceuticals by 45.3% in the 4th quarter. Nantahala Capital Management LLC now owns 1,596,504 shares of the company’s stock valued at $8,749,000 after acquiring an additional 497,429 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new stake in ARS Pharmaceuticals in the 1st quarter valued at about $2,627,000. 68.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPRY has been the topic of a number of recent analyst reports. Leerink Partnrs upgraded 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 issued a $19.00 price target on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. William Blair raised shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 20th. Finally, SVB Leerink raised shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $6.00 to $18.00 in a report on Tuesday, March 5th.

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.