ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 4.5%

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY)’s stock price traded up 4.5% during mid-day trading on Tuesday . The company traded as high as $9.14 and last traded at $9.12. 217,172 shares were traded during trading, a decline of 63% from the average session volume of 580,951 shares. The stock had previously closed at $8.73.

Wall Street Analyst Weigh In

Separately, Wedbush reissued an “outperform” rating and issued a $19.00 price target on shares of ARS Pharmaceuticals in a report on Monday, March 11th.

ARS Pharmaceuticals Stock Up 5.0 %

The stock’s 50 day moving average is $8.78 and its two-hundred day moving average is $7.97.

ARS Pharmaceuticals (NASDAQ:SPRY) last released its earnings results on Thursday, May 9th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). As a group, equities analysts anticipate that ARS Pharmaceuticals, Inc. will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Richard E. Lowenthal sold 100,000 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $9.28, for a total value of $928,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,646,494 shares in the company, valued at $15,279,464.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 5,757 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $9.01, for a total value of $51,870.57. Following the completion of the sale, the insider now owns 1,644,574 shares in the company, valued at approximately $14,817,611.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard E. Lowenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $9.28, for a total value of $928,000.00. Following the transaction, the chief executive officer now owns 1,646,494 shares in the company, valued at $15,279,464.32. The disclosure for this sale can be found here. Insiders have sold a total of 500,000 shares of company stock valued at $4,610,040 in the last 90 days. 40.10% of the stock is owned by insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in ARS Pharmaceuticals by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after buying an additional 229,988 shares in the last quarter. RA Capital Management L.P. grew its holdings in shares of ARS Pharmaceuticals by 214.3% in the third quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock valued at $35,758,000 after purchasing an additional 6,450,000 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of ARS Pharmaceuticals by 352.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,105 shares of the company’s stock valued at $61,000 after purchasing an additional 8,652 shares during the period. Nisa Investment Advisors LLC increased its position in ARS Pharmaceuticals by 22,300.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the company’s stock worth $31,000 after purchasing an additional 5,575 shares during the last quarter. Finally, Denali Advisors LLC purchased a new position in ARS Pharmaceuticals during the fourth quarter worth about $480,000. 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.