ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Insider Justin Chakma Sells 25,000 Shares

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Justin Chakma sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $14.39, for a total value of $359,750.00. Following the completion of the sale, the insider now directly owns 136,380 shares of the company’s stock, valued at $1,962,508.20. This trade represents a 15.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 Stock Down 0.1 %

Shares of NASDAQ:SPRY opened at $14.51 on Friday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -28.45 and a beta of 0.90. ARS Pharmaceuticals, Inc. has a 12-month low of $4.76 and a 12-month high of $18.51. The business’s 50 day moving average is $14.82 and its 200 day moving average is $12.01.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SPRY. Russell Investments Group Ltd. purchased a new position in ARS Pharmaceuticals in the first quarter worth $60,000. Vanguard Group Inc. boosted its position in ARS Pharmaceuticals by 37.0% in the first quarter. Vanguard Group Inc. now owns 2,886,455 shares of the company’s stock worth $29,500,000 after purchasing an additional 779,969 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in ARS Pharmaceuticals in the first quarter worth $172,000. Jacobs Levy Equity Management Inc. boosted its position in ARS Pharmaceuticals by 1,280.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 277,706 shares of the company’s stock worth $2,838,000 after purchasing an additional 257,589 shares during the last quarter. Finally, RA Capital Management L.P. boosted its position in ARS Pharmaceuticals by 14.8% in 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 last quarter. Hedge funds and other institutional investors own 68.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of ARS Pharmaceuticals in a research note on Tuesday, October 8th. Leerink Partners raised 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. Raymond James raised ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $18.00 to $22.00 in a research report on Tuesday, August 13th. Finally, William Blair raised ARS Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. Four investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target 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.