ARS Pharmaceuticals (NASDAQ:SPRY) Trading Up 4.1%

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report) shares traded up 4.1% during mid-day trading on Friday . The stock traded as high as $9.93 and last traded at $9.92. 93,575 shares traded hands during trading, a decline of 85% from the average session volume of 623,038 shares. The stock had previously closed at $9.53.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. William Blair raised shares of ARS Pharmaceuticals from a "market perform" rating to an "outperform" rating in a research note on Tuesday, February 20th. SVB Leerink raised shares of 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. Wedbush reaffirmed an "outperform" rating and set a $19.00 target price on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. Finally, Leerink Partnrs raised shares of ARS Pharmaceuticals from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 5th.

ARS Pharmaceuticals Stock Performance

The firm's 50-day moving average price is $8.22 and its two-hundred day moving average price is $5.92. The stock has a market cap of $952.46 million, a price-to-earnings ratio of -17.32 and a beta of 0.83.

Insider Activity

In other 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 transaction, the insider now owns 1,747,294 shares of the company's stock, valued at approximately $15,760,591.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Richard E. Lowenthal sold 2,800 shares of the business's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.00, for a total value of $25,200.00. Following the sale, the chief executive officer now directly owns 1,744,994 shares in the company, valued at approximately $15,704,946. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the insider now owns 1,747,294 shares in the company, valued at $15,760,591.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,260 shares of company stock valued at $2,756,480. 35.60% of the stock is currently owned by insiders.

Institutional Trading of ARS Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC purchased a new stake in ARS Pharmaceuticals during the first quarter worth about $2,627,000. Squarepoint Ops LLC purchased a new stake in ARS Pharmaceuticals during the first quarter worth about $84,000. State Street Corp increased its stake in ARS Pharmaceuticals by 50.4% during the first quarter. State Street Corp now owns 129,191 shares of the company's stock worth $841,000 after purchasing an additional 43,300 shares during the period. Jane Street Group LLC purchased a new stake in ARS Pharmaceuticals during the first quarter worth about $895,000. Finally, Ameriprise Financial Inc. purchased a new stake in ARS Pharmaceuticals during the first quarter worth about $1,825,000. 68.16% of the stock is currently owned by hedge funds and other institutional investors.

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.