Sarina Tanimoto Sells 100,000 Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) insider Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $13.16, for a total value of $1,316,000.00. Following the sale, the insider now directly owns 1,148,499 shares of the company’s stock, valued at approximately $15,114,246.84. This trade represents a 8.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sarina Tanimoto also recently made the following trade(s):

• On Tuesday, October 15th, Sarina Tanimoto sold 100,000 shares of ARS Pharmaceuticals stock. The stock was sold at an average price of $14.88, for a total value of $1,488,000.00.

ARS Pharmaceuticals Stock Performance

NASDAQ SPRY traded down $0.68 during trading hours on Wednesday, reaching $12.27. The company’s stock had a trading volume of 1,445,428 shares, compared to its average volume of 821,057. ARS Pharmaceuticals, Inc. has a fifty-two week low of $5.01 and a fifty-two week high of $18.51. The company’s 50-day moving average is $14.74 and its two-hundred day moving average is $12.32. The stock has a market cap of $1.19 billion, a PE ratio of -25.39 and a beta of 0.88.

Analyst Ratings Changes

A number of brokerages have recently commented on SPRY. Raymond James upgraded ARS Pharmaceuticals from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $18.00 to $22.00 in a research note on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of ARS Pharmaceuticals in a research report on Tuesday, October 8th. William Blair upgraded ARS Pharmaceuticals to a “strong-buy” rating in a report on Friday, August 30th. Finally, Leerink Partners increased 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. Four investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $24.00.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. First Turn Management LLC purchased a new position in ARS Pharmaceuticals in the third quarter valued at about $8,603,000. SG Americas Securities LLC grew its stake in shares of ARS Pharmaceuticals by 861.5% in the 2nd quarter. SG Americas Securities LLC now owns 111,592 shares of the company’s stock worth $950,000 after purchasing an additional 99,986 shares during the last quarter. Royce & Associates LP increased its holdings 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 valued at $10,026,000 after buying an additional 45,755 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in ARS Pharmaceuticals in the 3rd quarter worth about $2,584,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of ARS Pharmaceuticals by 99.3% during the second quarter. Bank of New York Mellon Corp now owns 139,285 shares of the company’s stock valued at $1,185,000 after acquiring an additional 69,394 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.

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.