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 firm'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 transaction, the insider owned 10,315 shares in the company, valued at approximately $175,251.85. The trade was a 59.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Eric Karas also recently made the following trade(s):

• On Wednesday, June 18th, Eric Karas sold 15,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $16.00, for a total value of $240,000.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY traded down $0.27 during trading hours on Friday, reaching $16.49. 881,491 shares of the stock traded hands, compared to its average volume of 1,343,652. ARS Pharmaceuticals, Inc. has a 52-week low of $8.91 and a 52-week high of $18.90. The company has a current ratio of 11.00, a quick ratio of 10.74 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.62 billion, a P/E ratio of -103.02 and a beta of 0.90. The company's 50-day moving average price is $14.85 and its two-hundred day moving average price is $13.20.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised ARS Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ARS Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $31.00.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several large investors have recently bought and sold shares of SPRY. Alliancebernstein L.P. lifted its holdings in shares of ARS Pharmaceuticals by 1.1% in the 1st quarter. Alliancebernstein L.P. now owns 3,922,805 shares of the company's stock valued at $49,349,000 after acquiring an additional 42,071 shares during the last quarter. Vanguard Group Inc. raised its position in ARS Pharmaceuticals by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,488,293 shares of the company's stock valued at $43,883,000 after purchasing an additional 23,341 shares during the period. Cormorant Asset Management LP lifted its stake in shares of ARS Pharmaceuticals by 220.0% in the 1st quarter. Cormorant Asset Management LP now owns 1,600,000 shares of the company's stock valued at $20,128,000 after purchasing an additional 1,100,000 shares during the last quarter. MPM Bioimpact LLC bought a new stake in shares of ARS Pharmaceuticals in the 1st quarter valued at approximately $16,519,000. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of ARS Pharmaceuticals by 903.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,253,724 shares of the company's stock worth $13,227,000 after purchasing an additional 1,128,724 shares during the period. 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.