Insider Selling: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Sells 100,000 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Sarina Tanimoto sold 100,000 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $11.67, for a total value of $1,167,000.00. Following the transaction, the insider now directly owns 1,098,499 shares in the company, valued at $12,819,483.33. This represents a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sarina Tanimoto also recently made the following trade(s):

• On Tuesday, December 10th, Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $13.16, for a total value of $1,316,000.00.
• On Tuesday, October 15th, Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.88, for a total transaction of $1,488,000.00.

ARS Pharmaceuticals Price Performance

SPRY stock opened at $11.18 on Friday. The firm has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $12.42. The stock has a market cap of $1.09 billion, a PE ratio of -21.92 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a one year low of $5.02 and a one year high of $18.51.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Turn Management LLC purchased a new stake in ARS Pharmaceuticals during the third quarter valued at about $8,603,000. Royce & Associates LP increased its position in shares of ARS Pharmaceuticals by 7.1% during the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after purchasing an additional 45,755 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $2,584,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of ARS Pharmaceuticals by 766.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock valued at $3,401,000 after buying an additional 207,456 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position 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 worth $1,185,000 after buying an additional 69,394 shares during the last quarter. 68.16% of the stock is currently owned by hedge funds and other 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.