Justin Chakma Sells 27,272 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 27,272 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.06, for a total value of $328,900.32. Following the completion of the sale, the insider now owns 136,380 shares in the company, valued at approximately $1,644,742.80. This represents a 16.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Justin Chakma also recently made the following trade(s):

• On Friday, December 6th, Justin Chakma sold 50,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.23, for a total value of $711,500.00.
• On Tuesday, December 3rd, Justin Chakma sold 45,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $13.19, for a total value of $593,550.00.
• On Wednesday, November 27th, Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.39, for a total transaction of $359,750.00.
• On Monday, November 25th, Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.00, for a total transaction of $459,396.00.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ:SPRY traded down $0.74 during midday trading on Friday, hitting $11.90. The company’s stock had a trading volume of 984,298 shares, compared to its average volume of 825,045. The stock’s 50 day simple moving average is $14.62 and its 200 day simple moving average is $12.34. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -23.33 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a fifty-two week low of $5.02 and a fifty-two week high of $18.51.

Hedge Funds Weigh In On ARS Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in ARS Pharmaceuticals by 861.5% during the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after purchasing an additional 99,986 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in ARS Pharmaceuticals by 99.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after buying an additional 69,394 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company’s stock valued at $63,000 after acquiring an additional 4,472 shares during the period. FAS Wealth Partners Inc. raised its stake in ARS Pharmaceuticals by 11.9% during the second quarter. FAS Wealth Partners Inc. now owns 67,656 shares of the company’s stock worth $576,000 after acquiring an additional 7,186 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of ARS Pharmaceuticals during the second quarter valued at $87,000. Institutional investors and hedge funds own 68.16% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SPRY. Leerink Partners upped their target price on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Finally, William Blair raised shares of ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.00.

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.