Justin Chakma Sells 27,272 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 27,272 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.06, for a total transaction of $328,900.32. Following the completion of the sale, the insider now owns 136,380 shares in the company, valued at $1,644,742.80. This represents a 16.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, December 6th, Justin Chakma sold 50,000 shares of ARS Pharmaceuticals stock. The shares were sold at an average price of $14.23, for a total transaction of $711,500.00.
• 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 shares were sold at an average price of $14.00, for a total value of $459,396.00.

ARS Pharmaceuticals Trading Down 5.9 %

NASDAQ:SPRY opened at $11.90 on Friday. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -23.33 and a beta of 0.88. ARS Pharmaceuticals, Inc. has a twelve month low of $5.02 and a twelve month high of $18.51. The stock has a fifty day simple moving average of $14.62 and a 200-day simple moving average of $12.37.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPRY. First Turn Management LLC bought a new position in ARS Pharmaceuticals in the 3rd quarter worth about $8,603,000. SG Americas Securities LLC boosted its holdings in shares of ARS Pharmaceuticals by 861.5% in the second quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock valued at $950,000 after purchasing an additional 99,986 shares during the period. Royce & Associates LP grew its stake in 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in ARS Pharmaceuticals during the 3rd quarter worth $2,584,000. Finally, Bank of New York Mellon Corp raised its position in ARS Pharmaceuticals by 99.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after purchasing an additional 69,394 shares in the last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Wall Street Analyst Weigh In

SPRY has been the topic of several recent research reports. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Finally, Leerink Partners lifted their price target on shares of ARS Pharmaceuticals from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ARS Pharmaceuticals presently has an average rating of “Buy” and an average target price of $24.00.

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.