ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal Sells 100,000 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) CEO Richard E. Lowenthal sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $12.93, for a total transaction of $1,293,000.00. Following the completion of the sale, the chief executive officer now owns 1,398,499 shares in the company, valued at approximately $18,082,592.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ARS Pharmaceuticals Price Performance

SPRY opened at $14.77 on Friday. The company has a 50 day simple moving average of $11.96 and a two-hundred day simple moving average of $10.01. The firm has a market cap of $1.43 billion, a P/E ratio of -28.40 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 1-year low of $2.75 and a 1-year high of $16.50.

ARS Pharmaceuticals (NASDAQ:SPRY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $2.00 million. Equities analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SPRY. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Leerink Partners increased their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday. William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Monday, September 16th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $24.00.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its holdings in ARS Pharmaceuticals by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock worth $22,460,000 after purchasing an additional 229,988 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of ARS Pharmaceuticals by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,453 shares of the company’s stock valued at $189,000 after buying an additional 7,348 shares during the last quarter. FAS Wealth Partners Inc. lifted its holdings in shares of ARS Pharmaceuticals by 31.5% in the first quarter. FAS Wealth Partners Inc. now owns 60,470 shares of the company’s stock worth $618,000 after buying an additional 14,500 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of ARS Pharmaceuticals during the first quarter worth $142,000. Finally, Capstone Investment Advisors LLC purchased a new position in ARS Pharmaceuticals during the first quarter valued at $739,000. Hedge funds and other institutional investors own 68.16% of the company’s stock.

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.