ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Justin Chakma Sells 45,000 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 45,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $13.19, for a total value of $593,550.00. Following the completion of the transaction, the insider now directly owns 136,380 shares of the company’s stock, valued at approximately $1,798,852.20. This represents a 24.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, November 27th, Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.39, for a total value of $359,750.00.
• On Monday, November 25th, Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.00, for a total value of $459,396.00.

ARS Pharmaceuticals Stock Performance

Shares of NASDAQ SPRY traded up $0.81 during mid-day trading on Wednesday, reaching $14.42. 974,767 shares of the company’s stock were exchanged, compared to its average volume of 818,810. The company’s 50-day moving average is $14.80 and its 200-day moving average is $12.15. ARS Pharmaceuticals, Inc. has a 52-week low of $5.01 and a 52-week high of $18.51. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -26.69 and a beta of 0.88.

Wall Street Analyst Weigh In

SPRY has been the subject of several analyst reports. 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. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Finally, Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $18.00 to $22.00 in a report on Tuesday, August 13th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.00.

Institutional Investors Weigh In On ARS Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after acquiring an additional 779,969 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in ARS Pharmaceuticals during the 1st quarter worth approximately $172,000. Virtu Financial LLC purchased a new position in ARS Pharmaceuticals during the 1st quarter worth approximately $206,000. SG Americas Securities LLC grew its stake in ARS Pharmaceuticals by 861.5% during the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after buying an additional 99,986 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in ARS Pharmaceuticals by 99.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock worth $1,185,000 after buying an additional 69,394 shares during the last quarter. Institutional investors and hedge funds 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.