ARS Pharmaceuticals Inc’s recent filing unveils that its Director RA CAPITAL MANAGEMENT, L.P. acquired Company’s shares for reported $4.95 million on Mar 27 ’24. In the deal valued at $9.79 per share,505,954 shares were bought. As a result of this transaction, RA CAPITAL MANAGEMENT, L.P. now holds 9,958,073 shares worth roughly $92.91 million.
Then, RA CAPITAL MANAGEMENT, L.P. bought 457,745 shares, generating $4,371,465 in total proceeds. Upon buying the shares at $9.55, the Director now owns 9,452,119 shares.
Before that, RA CAPITAL MANAGEMENT, L.P. bought 437,600 shares. ARS Pharmaceuticals Inc shares valued at $3,964,656 were divested by the Director at a price of $9.06 per share. As a result of the transaction, RA CAPITAL MANAGEMENT, L.P. now holds 8,994,374 shares, worth roughly $83.92 million.
Leerink Partners upgraded its ARS Pharmaceuticals Inc [SPRY] rating to an Outperform from a a Market perform in a research note published on March 05, 2024; the price target was increased to $18 from $6. A number of analysts have revised their coverage, including William Blair’s analysts, who increased its forecast for the stock in mid February from “a Mkt perform” to “an Outperform”. William Blair also remained covering SPRY and has decreased its forecast on September 20, 2023 with a “Mkt perform” recommendation from previously “an Outperform” rating. Wedbush started covering the stock on January 31, 2023. It rated SPRY as “an Outperform”.
Price Performance Review of SPRY
On Tuesday, ARS Pharmaceuticals Inc [NASDAQ:SPRY] saw its stock fall -6.04% to $9.33. Over the last five days, the stock has gained 0.54%. ARS Pharmaceuticals Inc shares have risen nearly 70.26% since the year began. Nevertheless, the stocks have risen 61.42% over the past one year. While a 52-week high of $11.27 was reached on 03/28/24, a 52-week low of $2.55 was recorded on 01/04/24. SMA at 50 days reached $8.26, while 200 days put it at $6.25. A total of 0.8 million shares were traded, compared to the trading of 0.63 million shares in the previous session.
Levels Of Support And Resistance For SPRY Stock
The 24-hour chart illustrates a support level at 8.97, which if violated will result in even more drops to 8.62. On the upside, there is a resistance level at 9.84. A further resistance level may holdings at 10.35. The Relative Strength Index (RSI) on the 14-day chart is 53.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.83%. Stochastics %K at 45.57% 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 Mar 15, 2024, dropping by -0.61 million shares to a total of 4.25 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.86 million shares. There was a decline of -14.35%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.09% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.03.
The most recent change occurred on January 03, 2023 when William Blair began covering the stock and recommended ‘”an Outperform”‘ rating along with a $17 price target.
