ARS Pharmaceuticals (NASDAQ:SPRY) Trading Up 7.6% on Analyst Upgrade

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shot up 7.6% on Monday after Leerink Partners raised their price target on the stock from $26.00 to $27.00. Leerink Partners currently has an outperform rating on the stock. ARS Pharmaceuticals traded as high as $12.09 and last traded at $12.09. 166,253 shares traded hands during trading, a decline of 85% from the average session volume of 1,115,667 shares. The stock had previously closed at $11.24.

Separately, Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $24.50.

Insider Buying and Selling

In other ARS Pharmaceuticals news, Director Laura Shawver sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.10, for a total value of $555,000.00. Following the sale, the director now directly owns 210,346 shares of the company's stock, valued at approximately $2,334,840.60. This trade represents a 19.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sarina Tanimoto sold 100,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 1,098,499 shares in the company, valued at approximately $12,819,483.33. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,208,058 shares of company stock valued at $18,541,686 over the last ninety days. Company insiders own 40.10% of the company's stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SPRY. State Street Corp raised its holdings in shares of ARS Pharmaceuticals by 10.4% during the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company's stock worth $29,718,000 after acquiring an additional 193,321 shares during the period. Geode Capital Management LLC increased its position in shares of ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company's stock worth $17,909,000 after purchasing an additional 38,927 shares during the last quarter. Royce & Associates LP grew its position in ARS Pharmaceuticals by 7.1% in the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company's stock valued at $10,026,000 after acquiring an additional 45,755 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in ARS Pharmaceuticals by 78.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company's stock valued at $9,469,000 after acquiring an additional 288,021 shares in the last quarter. Finally, First Turn Management LLC purchased a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $8,603,000. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Trading Up 0.2 %

The firm has a 50 day moving average price of $12.95 and a 200-day moving average price of $12.78. The firm has a market cap of $1.09 billion, a PE ratio of -22.08 and a beta of 0.96.

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.