ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Justin Chakma Sells 32,814 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 32,814 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.00, for a total transaction of $459,396.00. Following the transaction, the insider now owns 203,566 shares of the company’s stock, valued at approximately $2,849,924. This represents a 13.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, November 27th, Justin Chakma sold 25,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.39, for a total transaction of $359,750.00.

ARS Pharmaceuticals Price Performance

SPRY opened at $14.53 on Thursday. The company has a market capitalization of $1.41 billion, a PE ratio of -28.49 and a beta of 0.90. The business has a fifty day simple moving average of $14.82 and a 200 day simple moving average of $11.97. ARS Pharmaceuticals, Inc. has a 1 year low of $4.65 and a 1 year high of $18.51.

Analyst Ratings Changes

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

Hedge Funds Weigh In On ARS Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SPRY. RA Capital Management L.P. increased its holdings in shares of ARS Pharmaceuticals by 14.8% during the first 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 during the period. Vanguard Group Inc. increased its stake in ARS Pharmaceuticals by 37.0% during the 1st quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after acquiring an additional 779,969 shares during the period. State Street Corp raised its holdings in ARS Pharmaceuticals by 10.4% in the 3rd quarter. State Street Corp now owns 2,049,542 shares of the company’s stock valued at $29,718,000 after acquiring an additional 193,321 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ARS Pharmaceuticals by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company’s stock valued at $17,909,000 after acquiring an additional 38,927 shares during the period. Finally, Royce & Associates LP increased its position in shares of ARS Pharmaceuticals by 7.1% in the third quarter. Royce & Associates LP now owns 691,455 shares of the company’s stock worth $10,026,000 after purchasing an additional 45,755 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.

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.