ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Short Interest Update

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 5,500,000 shares, a growth of 29.4% from the March 15th total of 4,250,000 shares. Based on an average daily trading volume, of 643,600 shares, the short-interest ratio is presently 8.5 days. Currently, 13.1% of the company's stock are sold short.

ARS Pharmaceuticals Stock Down 2.4 %

Shares of NASDAQ SPRY traded down $0.22 during mid-day trading on Friday, reaching $9.02. 689,994 shares of the company were exchanged, compared to its average volume of 916,045. The stock has a market capitalization of $870.43 million, a P/E ratio of -15.82 and a beta of 0.83. The company's 50-day simple moving average is $8.53 and its 200-day simple moving average is $6.12. ARS Pharmaceuticals has a twelve month low of $2.55 and a twelve month high of $11.27.

ARS Pharmaceuticals (NASDAQ:SPRY - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.07. As a group, equities research analysts expect that ARS Pharmaceuticals will post -0.69 EPS for the current year.

Insider Transactions at ARS Pharmaceuticals

In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 98,778 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total transaction of $890,977.56. Following the completion of the transaction, the insider now owns 1,747,294 shares of the company's stock, valued at approximately $15,760,591.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 98,778 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $9.02, for a total transaction of $890,977.56. Following the sale, the insider now directly owns 1,747,294 shares of the company's stock, valued at approximately $15,760,591.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard E. Lowenthal sold 2,800 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $9.00, for a total transaction of $25,200.00. Following the transaction, the chief executive officer now owns 1,744,994 shares of the company's stock, valued at $15,704,946. The disclosure for this sale can be found here. Insiders sold 403,260 shares of company stock valued at $3,684,480 over the last three months. Company insiders own 35.60% of the company's stock.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of large investors have recently made changes to their positions in SPRY. GSA Capital Partners LLP acquired a new position in shares of ARS Pharmaceuticals in the fourth quarter valued at about $632,000. Barclays PLC grew its position in shares of ARS Pharmaceuticals by 127.1% during the 4th quarter. Barclays PLC now owns 40,374 shares of the company's stock worth $222,000 after purchasing an additional 22,597 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of ARS Pharmaceuticals by 45.3% during the fourth quarter. Nantahala Capital Management LLC now owns 1,596,504 shares of the company's stock worth $8,749,000 after purchasing an additional 497,429 shares during the period. Creative Planning increased its holdings in shares of ARS Pharmaceuticals by 11.7% during the fourth quarter. Creative Planning now owns 31,201 shares of the company's stock worth $171,000 after purchasing an additional 3,270 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ARS Pharmaceuticals in the fourth quarter valued at approximately $423,000. Institutional investors own 68.16% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on SPRY shares. William Blair upgraded shares of ARS Pharmaceuticals from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 20th. Leerink Partnrs raised ARS Pharmaceuticals from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 5th. Wedbush restated an "outperform" rating and issued a $19.00 price objective on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. Finally, SVB Leerink upgraded ARS Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $6.00 to $18.00 in a research note on Tuesday, March 5th.

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.