James E. Flynn Sells 740,149 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) major shareholder James E. Flynn sold 740,149 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $18.46, for a total value of $13,663,150.54. Following the sale, the insider owned 4,887,254 shares of the company's stock, valued at $90,218,708.84. This represents a 13.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

ARS Pharmaceuticals Trading Down 1.6%

NASDAQ:SPRY traded down $0.27 during midday trading on Friday, hitting $16.49. 881,491 shares of the company traded hands, compared to its average volume of 1,340,395. The firm has a market capitalization of $1.62 billion, a P/E ratio of -103.02 and a beta of 0.90. The firm's fifty day moving average is $14.85 and its 200-day moving average is $13.18. ARS Pharmaceuticals, Inc. has a 12-month low of $8.86 and a 12-month 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.

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

Wall Street Analysts Forecast Growth

SPRY has been the subject of several research reports. Scotiabank began coverage on shares of ARS Pharmaceuticals in a report 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 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $31.00.

Institutional Trading of ARS Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in shares of ARS Pharmaceuticals by 47.1% in the 4th quarter. Wells Fargo & Company MN now owns 41,701 shares of the company's stock valued at $440,000 after buying an additional 13,361 shares in the last quarter. Vanguard Group Inc. boosted its stake in ARS Pharmaceuticals by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 3,464,952 shares of the company's stock valued at $36,555,000 after acquiring an additional 115,656 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in ARS Pharmaceuticals by 4.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 60,294 shares of the company's stock worth $636,000 after purchasing an additional 2,670 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of ARS Pharmaceuticals by 12.9% during the fourth quarter. MetLife Investment Management LLC now owns 33,086 shares of the company's stock worth $349,000 after purchasing an additional 3,769 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ARS Pharmaceuticals by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 427,477 shares of the company's stock valued at $4,510,000 after purchasing an additional 3,530 shares during the last quarter. Hedge funds and other institutional investors own 68.16% of the company's stock.

ARS Pharmaceuticals Company Profile

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.