ARS Pharmaceuticals Inc.’s filing revealed that its Director RA CAPITAL MANAGEMENT, L.P. acquired Company’s shares for reported $23.25 million on Aug 29. In the deal valued at $6.20 per share,3,750,000 shares were bought. As a result of this transaction, RA CAPITAL MANAGEMENT, L.P. now holds 5,856,774 shares worth roughly $ 41.64 million.
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Then, ORBIMED ADVISORS LLC bought 500,000 shares, generating $3,100,000 in total proceeds. Upon buying the shares at $6.20, the Director now owns 8,019,187 shares.
Before that, Thompson Peter A. bought 500,000 shares. ARS Pharmaceuticals Inc. shares valued at $3,100,000 were divested by the Director at a price of $6.20 per share. As a result of the transaction, Thompson Peter A. now holds 8,019,187 shares, worth roughly $57.02 million.
Wedbush initiated its ARS Pharmaceuticals Inc. [SPRY] rating to an Outperform in a research note published on Friday, January 31, 2023; the price target was $10. PT values the company’s stock at a premium of 28.9 to its Friday closing price.
Price Performance Review of SPRY
On Friday, ARS Pharmaceuticals Inc. [NASDAQ:SPRY] saw its stock jump 0.28% to $7.11. On the same session, the stock had its day’s lowest price of $7.09, but rose to a high of $8.00. Over the last five days, the stock has gained 2.45%. ARS Pharmaceuticals Inc. shares have fallen nearly -16.65% since the year began. Nevertheless, the stocks have risen 35.17% over the past one year. While a 52-week high of $9.65 was reached on 05/12/23, a 52-week low of $3.99 was recorded on 05/10/23. SMA at 50 days reached $6.87, while 200 days put it at $7.13. A total of 1.59 million shares were traded, compared to the trading of 0.38 million shares in the previous session.
Levels Of Support And Resistance For SPRY Stock
The 24-hour chart illustrates a support level at 6.80, which if violated will result in even more drops to 6.49. On the upside, there is a resistance level at 7.71. A further resistance level may holdings at 8.31. The Relative Strength Index (RSI) on the 14-day chart is 55.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 58.55%. Stochastics %K at 52.81% indicates the stock is a holding.
How much short interest is there in ARS Pharmaceuticals Inc.?
A steep rise in short interest was recorded in ARS Pharmaceuticals Inc. stocks on Aug 14, 2023, dropping by -0.42 million shares to a total of 5.82 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 6.24 million shares. There was a decline of -7.22%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.84% of the overall stock float, the days-to-cover ratio (short ratio) fell to 16.93.
ARS Pharmaceuticals Inc. [SPRY] – Who Are The Largest Shareholders?
In filings from Deerfield Management Co. LP, it is revealed that the company now owns 11,077,927 shares, or roughly 11.69% of the outstanding SPRY shares. Additionally, RA Capital Management LP increased 124.60% of its stake after which the total value it holdings stand at $49,683,633, while Fidelity Management & Research Co reduced -8.32% of its stake to hold $34.29 million in the firm. Over the last quarter, Rubric Capital Management LP sold -681,509 shares of ARS Pharmaceuticals Inc., while BlackRock Fund Advisors sold 1,084,133 shares. At present, Baker Bros. Advisors LP is holding 2,006,451 shares valued at $14.75 million. The Vanguard Group, Inc. owned 1,789,303 shares of the company at the time of its most recent 13F filing, worth $13.15 million.
According to FactSet, ARS Pharmaceuticals Inc.’s share price will average $14.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 97.46 percent from its previous closing price of $7.09. Analysts expect ARS Pharmaceuticals Inc. stock to reach the higher price of $15.00, while the lowest price estimate is $13.00. However, 3 analysts have rated SPRY stock as a Buy in their predictions for 2023.