ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Justin Chakma Sells 50,000 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 50,000 shares of ARS Pharmaceuticals stock in a transaction on Friday, December 6th. The shares were sold at an average price of $14.23, for a total transaction of $711,500.00. Following the completion of the transaction, the insider now owns 136,380 shares in the company, valued at approximately $1,940,687.40. This trade represents a 26.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Justin Chakma also recently made the following trade(s):

• On Tuesday, December 3rd, Justin Chakma sold 45,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $13.19, for a total value of $593,550.00.
• On Wednesday, November 27th, Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.39, for a total value of $359,750.00.
• On Monday, November 25th, Justin Chakma sold 32,814 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.00, for a total value of $459,396.00.

ARS Pharmaceuticals Price Performance

NASDAQ SPRY traded up $0.02 on Friday, reaching $14.02. The company had a trading volume of 727,177 shares, compared to its average volume of 818,721. ARS Pharmaceuticals, Inc. has a 1 year low of $5.01 and a 1 year high of $18.51. The firm has a 50-day moving average of $14.80 and a 200-day moving average of $12.18. The firm has a market capitalization of $1.36 billion, a PE ratio of -28.16 and a beta of 0.88.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On ARS Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPRY. Vanguard Group Inc. grew its stake in shares of ARS Pharmaceuticals by 37.0% during the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock valued at $29,500,000 after acquiring an additional 779,969 shares in the last quarter. State Street Corp increased its holdings in ARS Pharmaceuticals by 10.4% during the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock worth $29,718,000 after purchasing an additional 193,321 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ARS Pharmaceuticals by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after purchasing an additional 38,927 shares in the last quarter. Royce & Associates LP boosted its stake in shares of ARS Pharmaceuticals by 7.1% during the 3rd quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock valued at $10,026,000 after buying an additional 45,755 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of ARS Pharmaceuticals by 78.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock worth $9,469,000 after buying an additional 288,021 shares in the last quarter. 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.