ARS Pharmaceuticals (NASDAQ:SPRY) Shares Gap Up to $8.21

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.21, but opened at $8.44. ARS Pharmaceuticals shares last traded at $8.56, with a volume of 50,615 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SPRY shares. Leerink Partnrs raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 5th. SVB Leerink raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $6.00 to $18.00 in a research note on Tuesday, March 5th. William Blair raised ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and set a $19.00 price target on shares of ARS Pharmaceuticals in a research note on Monday, March 11th.

ARS Pharmaceuticals Stock Down 2.8 %

The firm has a 50 day moving average price of $8.83 and a 200 day moving average price of $6.39.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.07. As a group, equities research analysts predict that ARS Pharmaceuticals, Inc. will post -0.69 EPS for the current year.

Insider Transactions at ARS Pharmaceuticals

In other news, CEO Richard E. Lowenthal sold 2,800 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $9.00, for a total value of $25,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,744,994 shares of the company’s stock, valued at $15,704,946. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Sarina Tanimoto sold 98,778 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total value of $890,977.56. Following the completion of the transaction, the insider now directly owns 1,747,294 shares of the company’s stock, valued at $15,760,591.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard E. Lowenthal sold 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $9.00, for a total value of $25,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,744,994 shares of the company’s stock, valued at $15,704,946. The disclosure for this sale can be found here. Insiders sold a total of 503,260 shares of company stock valued at $4,612,480 over the last ninety days. 35.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors have recently modified their holdings of SPRY. Charles Schwab Trust Co bought a new position in ARS Pharmaceuticals during the third quarter valued at $16,050,000. RA Capital Management L.P. grew its holdings in 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 valued at $35,758,000 after purchasing an additional 6,450,000 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in ARS Pharmaceuticals by 352.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,105 shares of the company’s stock valued at $61,000 after purchasing an additional 8,652 shares during the period. Nisa Investment Advisors LLC grew its holdings in ARS Pharmaceuticals by 22,300.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock valued at $31,000 after purchasing an additional 5,575 shares during the period. Finally, Denali Advisors LLC bought a new position in ARS Pharmaceuticals during the fourth quarter valued at $480,000. 68.16% of the stock is owned by institutional investors.

About ARS Pharmaceuticals

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.