Eric Karas Sells 15,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) insider Eric Karas sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $16.00, for a total value of $240,000.00. Following the transaction, the insider now owns 7,696 shares of the company's stock, valued at $123,136. This trade represents a 66.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

ARS Pharmaceuticals Price Performance

NASDAQ:SPRY traded down $0.11 during trading hours on Friday, reaching $15.80. The company's stock had a trading volume of 1,338,110 shares, compared to its average volume of 1,308,088. ARS Pharmaceuticals, Inc. has a 12 month low of $7.55 and a 12 month high of $18.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 10.74 and a current ratio of 11.00. The stock has a 50 day moving average price of $14.34 and a two-hundred day moving average price of $12.88.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SPRY shares. William Blair reaffirmed an "outperform" rating on shares of ARS Pharmaceuticals in a research note on Monday, March 3rd. Wall Street Zen downgraded shares of ARS Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Scotiabank started 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 target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of large investors have recently bought and sold shares of SPRY. Allspring Global Investments Holdings LLC raised its stake in ARS Pharmaceuticals by 93.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 344,171 shares of the company's stock worth $3,631,000 after buying an additional 165,950 shares in the last quarter. Rhumbline Advisers increased its position in shares of ARS Pharmaceuticals by 2.9% during the fourth quarter. Rhumbline Advisers now owns 65,163 shares of the company's stock worth $687,000 after purchasing an additional 1,824 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $4,469,000. Compass Capital Corp MA ADV acquired a new position in shares of ARS Pharmaceuticals during the fourth quarter worth $106,000. Finally, Levin Capital Strategies L.P. increased its position in shares of ARS Pharmaceuticals by 56.2% during the fourth quarter. Levin Capital Strategies L.P. now owns 467,627 shares of the company's stock worth $4,933,000 after purchasing an additional 168,201 shares in 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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