ARS Pharmaceuticals (NASDAQ:SPRY) Hits New 52-Week High at $9.75

Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) hit a new 52-week high on Tuesday . The stock traded as high as $9.75 and last traded at $9.73, with a volume of 978686 shares trading hands. The stock had previously closed at $9.13.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SPRY. Wedbush reissued an “outperform” rating and issued a $19.00 target price on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. Leerink Partnrs upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 5th. SVB Leerink upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $6.00 to $18.00 in a report on Tuesday, March 5th. Finally, William Blair upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 20th.

ARS Pharmaceuticals Stock Performance

The firm has a market cap of $961.14 million, a PE ratio of -17.47 and a beta of 0.78. The stock has a fifty day moving average price of $7.75 and a 200-day moving average price of $5.80.

Insider Transactions at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 98,778 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 1,747,294 shares in the company, valued at approximately $15,760,591.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $890,977.56. Following the completion of the transaction, the insider now owns 1,747,294 shares in the company, valued at approximately $15,760,591.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard E. Lowenthal sold 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $9.00, for a total value of $25,200.00. Following the completion of the transaction, the chief executive officer now owns 1,744,994 shares of the company’s stock, valued at approximately $15,704,946. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,260 shares of company stock worth $2,756,480. 35.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. raised its position in shares of ARS Pharmaceuticals by 214.3% in the 3rd 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 in the last quarter. Charles Schwab Trust Co acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at approximately $16,050,000. Franklin Resources Inc. raised its position in shares of 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 purchasing an additional 229,988 shares in the last quarter. BlackRock Inc. acquired a new position in shares of ARS Pharmaceuticals in the 2nd quarter valued at approximately $15,148,000. Finally, Vanguard Group Inc. raised its position in shares of ARS Pharmaceuticals by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,121,289 shares of the company’s stock valued at $8,018,000 after purchasing an additional 276,097 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.