ARS Pharmaceuticals, Inc. (NASDAQ:SPRY - Get Free Report)'s share price fell 4% on Friday following insider selling activity. The stock traded as low as $10.83 and last traded at $10.87. 601,668 shares were traded during mid-day trading, a decline of 28% from the average session volume of 831,488 shares. The stock had previously closed at $11.32.
Specifically, insider Sarina Tanimoto sold 100,000 shares of the company's stock in a transaction on 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 completion of the sale, the insider now directly owns 1,098,499 shares of the company's stock, valued at approximately $12,819,483.33. This represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several brokerages have recently commented on SPRY. William Blair raised shares of ARS Pharmaceuticals to a "strong-buy" rating in a research note on Friday, August 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 target price on shares of ARS Pharmaceuticals in a report on Tuesday, October 8th. Finally, Leerink Partners boosted their price objective on ARS Pharmaceuticals from $21.00 to $25.00 and gave the company an "outperform" rating in a research report on Friday, September 20th. Four analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $24.00.
Get Our Latest Analysis on SPRY
The firm has a market capitalization of $1.06 billion, a PE ratio of -21.31 and a beta of 0.88. The company has a 50-day moving average price of $14.44 and a 200 day moving average price of $12.42.
A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC grew its holdings in ARS Pharmaceuticals by 189.7% during the third quarter. Barclays PLC now owns 111,666 shares of the company's stock worth $1,618,000 after acquiring an additional 73,127 shares during the period. Geode Capital Management LLC increased its position in ARS Pharmaceuticals by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,234,805 shares of the company's stock worth $17,909,000 after purchasing an additional 38,927 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at about $250,000. Wellington Management Group LLP lifted its position in ARS Pharmaceuticals by 38.9% during the third quarter. Wellington Management Group LLP now owns 162,335 shares of the company's stock valued at $2,354,000 after buying an additional 45,452 shares in the last quarter. Finally, Wexford Capital LP purchased a new stake in shares of ARS Pharmaceuticals during the 3rd quarter valued at about $3,601,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider ARS Pharmaceuticals, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ARS Pharmaceuticals wasn't on the list.
While ARS Pharmaceuticals currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.