Insider Buying: ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Buys 505,954 Shares of Stock

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) Director Ra Capital Management, L.P. purchased 505,954 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $9.79 per share, for a total transaction of $4,953,289.66. Following the completion of the transaction, the director now directly owns 9,958,073 shares of the company’s stock, valued at approximately $97,489,534.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Monday, March 25th, Ra Capital Management, L.P. purchased 437,600 shares of ARS Pharmaceuticals stock. The stock was acquired at an average price of $9.06 per share, for a total transaction of $3,964,656.00.

ARS Pharmaceuticals Price Performance

Shares of SPRY stock opened at $9.96 on Thursday. The company has a market capitalization of $961.14 million, a price-to-earnings ratio of -17.47 and a beta of 0.78. ARS Pharmaceuticals, Inc. has a one year low of $2.55 and a one year high of $10.20. The company’s fifty day moving average price is $7.75 and its 200-day moving average price is $5.80.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SPRY shares. William Blair upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 20th. SVB Leerink upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $6.00 to $18.00 in a research report on Tuesday, March 5th. Leerink Partnrs upgraded shares of ARS Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 5th. Finally, Wedbush restated an “outperform” rating and set a $19.00 price objective on shares of ARS Pharmaceuticals in a research report on Monday, March 11th.

Institutional Trading of ARS Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in ARS Pharmaceuticals in the 4th quarter valued at $632,000. Barclays PLC increased its holdings in ARS Pharmaceuticals by 127.1% in the 4th quarter. Barclays PLC now owns 40,374 shares of the company’s stock valued at $222,000 after acquiring an additional 22,597 shares during the last quarter. Nantahala Capital Management LLC increased its holdings in ARS Pharmaceuticals by 45.3% in the 4th quarter. Nantahala Capital Management LLC now owns 1,596,504 shares of the company’s stock valued at $8,749,000 after acquiring an additional 497,429 shares during the last quarter. Creative Planning increased its holdings in ARS Pharmaceuticals by 11.7% in the 4th quarter. Creative Planning now owns 31,201 shares of the company’s stock valued at $171,000 after acquiring an additional 3,270 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in ARS Pharmaceuticals in the 4th quarter valued at $423,000. 68.16% of the stock is currently owned by institutional investors.

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.