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

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) insider Eric Karas sold 15,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $16.99, for a total transaction of $254,850.00. Following the sale, the insider owned 10,315 shares of the company's stock, valued at approximately $175,251.85. This represents a 59.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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 Stock Performance

ARS Pharmaceuticals stock traded down $0.27 during trading on Friday, reaching $16.49. The company had a trading volume of 881,491 shares, compared to its average volume of 1,340,395. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -103.02 and a beta of 0.90. 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 firm's 50-day simple moving average is $14.85 and its 200 day simple moving average is $13.18. ARS Pharmaceuticals, Inc. has a 52 week low of $8.86 and a 52 week high of $18.90.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last issued 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 business had revenue of $7.97 million during the quarter, compared to analysts' expectations of $7.48 million. Sell-side analysts forecast that ARS Pharmaceuticals, Inc. will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in ARS Pharmaceuticals by 0.6% during the fourth quarter. Wellington Management Group LLP now owns 163,252 shares of the company's stock valued at $1,722,000 after purchasing an additional 917 shares in the last quarter. Rhumbline Advisers raised its position in shares of ARS Pharmaceuticals by 2.9% during the 4th quarter. Rhumbline Advisers now owns 65,163 shares of the company's stock valued at $687,000 after purchasing an additional 1,824 shares during the period. Mariner LLC lifted its stake in shares of ARS Pharmaceuticals by 5.8% during the 4th quarter. Mariner LLC now owns 35,908 shares of the company's stock valued at $379,000 after buying an additional 1,972 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in ARS Pharmaceuticals by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 132,213 shares of the company's stock worth $1,663,000 after buying an additional 1,975 shares during the period. Finally, LPL Financial LLC boosted its holdings in ARS Pharmaceuticals by 11.4% in the 4th quarter. LPL Financial LLC now owns 21,408 shares of the company's stock worth $226,000 after buying an additional 2,190 shares during the period. 68.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.