ARS Pharmaceuticals (NASDAQ:SPRY) Stock Price Down 4% on Insider Selling

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shares fell 4% during trading on Friday after an insider sold shares in the company. The stock traded as low as $10.83 and last traded at $10.87. 601,668 shares were traded during trading, a decline of 28% from the average session volume of 831,488 shares. The stock had previously closed at $11.32.

Specifically, insider Sarina Tanimoto sold 100,000 shares of the business'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 sale, the insider now owns 1,098,499 shares in the company, valued at $12,819,483.33. The trade was a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SPRY shares. Leerink Partners raised their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Finally, William Blair upgraded ARS Pharmaceuticals to a "strong-buy" rating in a research report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ARS Pharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $24.00.

ARS Pharmaceuticals Stock Performance

The stock has a market cap of $1.09 billion, a PE ratio of -21.92 and a beta of 0.88. The stock has a fifty day moving average price of $14.44 and a 200 day moving average price of $12.42.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of ARS Pharmaceuticals during the third quarter valued at approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ARS Pharmaceuticals by 151.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,419 shares of the company's stock worth $63,000 after purchasing an additional 4,472 shares during the period. Principal Financial Group Inc. bought a new stake in shares of ARS Pharmaceuticals during the second quarter worth $87,000. J.W. Cole Advisors Inc. boosted its stake in shares of ARS Pharmaceuticals by 10.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,400 shares of the company's stock valued at $131,000 after purchasing an additional 1,500 shares during the period. Finally, Quarry LP bought a new position in shares of ARS Pharmaceuticals in the third quarter worth about $174,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

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.