ARS Pharmaceuticals (NASDAQ:SPRY) Downgraded to Sell Rating by Wall Street Zen

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

ARS Pharmaceuticals Stock Down 0.3%

Shares of NASDAQ:SPRY opened at $17.87 on Friday. The business's 50 day moving average is $16.10 and its 200 day moving average is $13.88. ARS Pharmaceuticals has a 12-month low of $8.91 and a 12-month high of $18.90. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -111.68 and a beta of 0.90. The company has a quick ratio of 10.74, a current ratio of 11.00 and a debt-to-equity ratio of 0.30.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.35). ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. The firm had revenue of $7.97 million for the quarter, compared to the consensus estimate of $7.48 million. On average, sell-side analysts forecast that ARS Pharmaceuticals will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, major shareholder James E. Flynn sold 740,149 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $18.46, for a total value of $13,663,150.54. Following the completion of the sale, the insider directly owned 4,887,254 shares of the company's stock, valued at approximately $90,218,708.84. This represents a 13.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric Karas sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $16.99, for a total value of $254,850.00. Following the completion of the transaction, the insider owned 10,315 shares in the company, valued at $175,251.85. The trade was a 59.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,043,118 shares of company stock valued at $18,024,863 in the last quarter. 33.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPRY. Aberdeen Group plc raised its stake in shares of ARS Pharmaceuticals by 49.9% during the 2nd quarter. Aberdeen Group plc now owns 1,502,575 shares of the company's stock worth $26,220,000 after purchasing an additional 499,916 shares during the period. Matisse Capital increased its holdings in ARS Pharmaceuticals by 1.8% during the second quarter. Matisse Capital now owns 56,714 shares of the company's stock worth $990,000 after buying an additional 1,000 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in ARS Pharmaceuticals by 68.1% in the second quarter. KLP Kapitalforvaltning AS now owns 11,600 shares of the company's stock worth $202,000 after acquiring an additional 4,700 shares during the period. Belpointe Asset Management LLC bought a new stake in ARS Pharmaceuticals in the second quarter worth about $302,000. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in ARS Pharmaceuticals by 57.8% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 68,094 shares of the company's stock valued at $1,188,000 after acquiring an additional 24,950 shares during the last quarter. Institutional investors own 68.16% of the company's stock.

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.

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