ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Major Shareholder James E. Flynn Sells 528,456 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) major shareholder James E. Flynn sold 528,456 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $18.04, for a total value of $9,533,346.24. Following the completion of the transaction, the insider now owns 5,274,735 shares of the company’s stock, valued at approximately $95,156,219.40. This represents a 9.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ARS Pharmaceuticals Trading Up 0.2 %

ARS Pharmaceuticals stock opened at $14.11 on Friday. The stock has a market cap of $1.37 billion, a PE ratio of -30.02 and a beta of 0.90. The stock has a 50-day moving average price of $14.58 and a 200 day moving average price of $11.67. ARS Pharmaceuticals, Inc. has a 52 week low of $4.27 and a 52 week high of $18.51.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Leerink Partners raised their price target on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Finally, Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.00.

Institutional Trading of ARS Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. RA Capital Management L.P. increased its position in ARS Pharmaceuticals by 14.8% during the 1st quarter. RA Capital Management L.P. now owns 10,860,977 shares of the company’s stock worth $110,999,000 after purchasing an additional 1,401,299 shares in the last quarter. Vanguard Group Inc. grew its holdings in ARS Pharmaceuticals by 37.0% in the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after buying an additional 779,969 shares during the period. First Turn Management LLC purchased a new stake in ARS Pharmaceuticals in the 3rd quarter valued at about $8,603,000. Jacobs Levy Equity Management Inc. grew its holdings in ARS Pharmaceuticals by 1,280.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock valued at $2,838,000 after buying an additional 257,589 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ARS Pharmaceuticals by 766.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock valued at $3,401,000 after buying an additional 207,456 shares during the period. Hedge funds and other 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.