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ARS Pharmaceuticals (NASDAQ:SPRY) Shares Down 5% - Should You Sell?

ARS Pharmaceuticals logo with Medical background

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report)'s stock price fell 5% on Monday . The company traded as low as $16.86 and last traded at $17.29. 328,729 shares traded hands during trading, a decline of 75% from the average session volume of 1,322,991 shares. The stock had previously closed at $18.20.

Wall Street Analyst Weigh In

SPRY has been the subject of several research reports. Scotiabank began coverage on shares of ARS Pharmaceuticals in a research note on Friday, March 7th. They set a "sector outperform" rating and a $30.00 price objective for the company. Wall Street Zen raised ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $31.00.

View Our Latest Stock Report on ARS Pharmaceuticals

ARS Pharmaceuticals Trading Down 1.6%

The firm's 50 day simple moving average is $14.80 and its 200-day simple moving average is $13.15. The company has a market capitalization of $1.62 billion, a PE ratio of -103.02 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 earnings results on Wednesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting the consensus estimate of ($0.35). ARS Pharmaceuticals had a negative net margin of 16.11% and a negative return on equity of 6.94%. The business had revenue of $7.97 million for the quarter, compared to analyst estimates of $7.48 million. As a group, equities research analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.55 EPS for the current year.

Insider Activity at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, CFO Kathleen D. Scott sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total value of $705,000.00. Following the completion of the sale, the chief financial officer owned 7,424 shares of the company's stock, valued at $104,678.40. This trade represents a 87.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander A. Fitzpatrick sold 102,969 shares of ARS Pharmaceuticals stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $14.10, for a total transaction of $1,451,862.90. Following the sale, the insider owned 89,613 shares in the company, valued at $1,263,543.30. This represents a 53.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,093,120 shares of company stock valued at $18,639,888 over the last 90 days. Corporate insiders own 33.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPRY. Bernard Wealth Management Corp. acquired a new position in ARS Pharmaceuticals in the 4th quarter worth $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of ARS Pharmaceuticals during the first quarter worth about $37,000. PNC Financial Services Group Inc. lifted its stake in shares of ARS Pharmaceuticals by 78,100.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,910 shares of the company's stock worth $49,000 after acquiring an additional 3,905 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in ARS Pharmaceuticals in the fourth quarter valued at about $73,000. Finally, BNP Paribas Financial Markets acquired a new stake in ARS Pharmaceuticals during the 4th quarter valued at approximately $75,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

ARS Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

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