ARS Pharmaceuticals (NASDAQ:SPRY) Shares Up 5.4% – Here’s Why

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) shares were up 5.4% during trading on Monday . The stock traded as high as $15.19 and last traded at $14.84. Approximately 533,700 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 1,312,863 shares. The stock had previously closed at $14.08.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SPRY shares. Raymond James upped their price target on shares of ARS Pharmaceuticals from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 14th. Cantor Fitzgerald restated an “overweight” rating and set 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 ARS Pharmaceuticals from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

ARS Pharmaceuticals Trading Up 3.0 %

The stock’s 50-day moving average price is $12.49 and its 200 day moving average price is $13.06.

Insider Buying and Selling at ARS Pharmaceuticals

In other news, insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $11.67, for a total transaction of $1,167,000.00. Following the sale, the insider now directly owns 1,098,499 shares in the company, valued at approximately $12,819,483.33. The trade was a 8.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Shawver sold 50,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.10, for a total transaction of $555,000.00. Following the completion of the sale, the director now directly owns 210,346 shares in the company, valued at approximately $2,334,840.60. The trade was a 19.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,095,558 shares of company stock valued at $16,853,686 in the last quarter. Corporate insiders own 40.10% of the company’s stock.

Institutional Investors Weigh In On ARS Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. First Turn Management LLC acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter worth approximately $8,603,000. Jacobs Levy Equity Management Inc. grew its position in ARS Pharmaceuticals by 78.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 653,048 shares of the company’s stock valued at $9,469,000 after acquiring an additional 288,021 shares during the period. Miura Global Management LLC acquired a new position in ARS Pharmaceuticals during the third quarter worth $3,915,000. Wexford Capital LP bought a new position in shares of ARS Pharmaceuticals during the third quarter valued at $3,601,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ARS Pharmaceuticals by 766.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 234,537 shares of the company’s stock valued at $3,401,000 after purchasing an additional 207,456 shares in the last quarter. 68.16% of the stock is 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.