Eric Karas Sells 10,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) insider Eric Karas sold 10,000 shares of ARS Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.00, for a total value of $140,000.00. Following the completion of the transaction, the insider now directly owns 7,696 shares in the company, valued at $107,744. This trade represents a 56.51 % 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 link.

ARS Pharmaceuticals Stock Performance

Shares of SPRY stock traded up $0.26 on Tuesday, reaching $13.15. The stock had a trading volume of 1,793,524 shares, compared to its average volume of 1,063,646. ARS Pharmaceuticals, Inc. has a 1 year low of $7.55 and a 1 year high of $18.51. The stock has a market cap of $1.28 billion, a P/E ratio of -25.78 and a beta of 1.03. The company has a 50 day simple moving average of $12.10 and a 200 day simple moving average of $13.06.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.56. The firm had revenue of $86.58 million during the quarter, compared to analysts' expectations of $15.46 million. On average, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Trading of ARS Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its position in shares of ARS Pharmaceuticals by 5,168.4% during the 4th quarter. Alliancebernstein L.P. now owns 3,880,734 shares of the company's stock valued at $40,942,000 after acquiring an additional 3,807,074 shares during the period. Vanguard Group Inc. increased its position in ARS Pharmaceuticals by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock worth $36,555,000 after buying an additional 115,656 shares in the last quarter. State Street Corp raised its stake in shares of ARS Pharmaceuticals by 10.4% in the third quarter. State Street Corp now owns 2,049,542 shares of the company's stock worth $29,718,000 after buying an additional 193,321 shares during the period. Alyeska Investment Group L.P. lifted its position in shares of ARS Pharmaceuticals by 903.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock valued at $13,227,000 after buying an additional 1,128,724 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of ARS Pharmaceuticals by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,238,156 shares of the company's stock valued at $13,066,000 after acquiring an additional 3,351 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPRY. Raymond James boosted their price objective on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 14th. Leerink Partners boosted their price target on shares of ARS Pharmaceuticals from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Monday, January 13th. Oppenheimer initiated coverage on shares of ARS Pharmaceuticals in a report on Monday, February 10th. They issued an "outperform" rating and a $40.00 price objective for the company. Scotiabank initiated coverage on ARS Pharmaceuticals in a report on Friday, March 7th. They set a "sector outperform" rating and a $30.00 target price on the stock. Finally, William Blair restated an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $31.00.

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.