Shares of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY – Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $9.75 and last traded at $9.73, with a volume of 978686 shares trading hands. The stock had previously closed at $9.13.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on SPRY. Wedbush reissued an “outperform” rating and issued a $19.00 target price on shares of ARS Pharmaceuticals in a research note on Monday, March 11th. Leerink Partnrs upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 5th. SVB Leerink upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $6.00 to $18.00 in a report on Tuesday, March 5th. Finally, William Blair upgraded ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 20th.
Read Our Latest Stock Report on SPRY
ARS Pharmaceuticals Stock Performance
Insider Transactions at ARS Pharmaceuticals
In other news, insider Sarina Tanimoto sold 98,778 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total transaction of $890,977.56. Following the completion of the sale, the insider now owns 1,747,294 shares in the company, valued at approximately $15,760,591.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ARS Pharmaceuticals news, insider Sarina Tanimoto sold 98,778 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $9.02, for a total value of $890,977.56. Following the completion of the transaction, the insider now owns 1,747,294 shares in the company, valued at approximately $15,760,591.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard E. Lowenthal sold 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $9.00, for a total value of $25,200.00. Following the completion of the transaction, the chief executive officer now owns 1,744,994 shares of the company’s stock, valued at approximately $15,704,946. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,260 shares of company stock worth $2,756,480. 35.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On ARS Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. raised its position in shares of ARS Pharmaceuticals by 214.3% in the 3rd quarter. RA Capital Management L.P. now owns 9,459,678 shares of the company’s stock valued at $35,758,000 after purchasing an additional 6,450,000 shares in the last quarter. Charles Schwab Trust Co acquired a new position in shares of ARS Pharmaceuticals in the 3rd quarter valued at approximately $16,050,000. Franklin Resources Inc. raised its position in shares of ARS Pharmaceuticals by 5.9% in the 4th quarter. Franklin Resources Inc. now owns 4,098,497 shares of the company’s stock valued at $22,460,000 after purchasing an additional 229,988 shares in the last quarter. BlackRock Inc. acquired a new position in shares of ARS Pharmaceuticals in the 2nd quarter valued at approximately $15,148,000. Finally, Vanguard Group Inc. raised its position in shares of ARS Pharmaceuticals by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,121,289 shares of the company’s stock valued at $8,018,000 after purchasing an additional 276,097 shares in the last quarter. 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.
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