ARS Pharmaceuticals Inc (NASDAQ: SPRY) stock jumped 4.43% on Friday to $4.71 against a previous-day closing price of $4.51. With 0.54 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.36 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.7400 whereas the lowest price it dropped to was $4.5300. The 52-week range on SPRY shows that it touched its highest point at $9.65 and its lowest point at $2.55 during that stretch. It currently has a 1-year price target of $8.00. Beta for the stock currently stands at 0.41.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SPRY was up-trending over the past week, with a rise of 26.27%, but this was up by 39.35% over a month. Three-month performance dropped to -32.81% while six-month performance fell -45.04%. The stock lost -27.54% in the past year, while it has lost -44.78% so far this year. A look at the trailing 12-month EPS for SPRY yields -2.43 with Next year EPS estimates of -0.72. For the next quarter, that number is -0.13. This implies an EPS growth rate of 29.89% for this year and -17.49% for next year.
Float and Shares Shorts:
At present, 93.94 million SPRY shares are outstanding with a float of 40.73 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.6 million, which was 6.91% higher than short shares on Sep 28, 2023. In addition to Mr. Richard Lowenthal M.B.A., M.S., MSMSEL as the firm’s Founder, President, CEO & Director, Dr. Sarina Tanimoto M.B.A., M.D. serves as its Co-Founder & Chief Medical Officer.
Institutional Ownership:
Through their ownership of 58.98% of SPRY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 35.75% of SPRY, in contrast to 30.10% held by mutual funds. Shares owned by individuals account for 13.14%. As the largest shareholder in SPRY with 9.90% of the stake, RA Capital Management LP holds 9,459,678 shares worth 9,459,678. A second-largest stockholder of SPRY, Charles Schwab Trust Co., holds 4,246,071 shares, controlling over 4.44% of the firm’s shares. Franklin Advisers, Inc. is the third largest shareholder in SPRY, holding 3,868,327 shares or 4.05% stake. With a 2.76% stake in SPRY, the FTIF SICAV – Biotechnology Discov is the largest stakeholder. A total of 2,638,194 shares are owned by the mutual fund manager. The Fidelity Select Port. – Biotechno, which owns about 1.37% of SPRY stock, is the second-largest Mutual Fund holder. It holds 1,305,356 shares valued at 4.66 million. Franklin Biotechnology Discovery holds 1.29% of the stake in SPRY, owning 1,229,989 shares worth 4.39 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPRY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SPRY analysts setting a high price target of $13.00 and a low target of $3.00, the average target price over the next 12 months is $8.00. Based on these targets, SPRY could surge 176.01% to reach the target high and fall by -36.31% to reach the target low. Reaching the average price target will result in a growth of 69.85% from current levels.
Summary of Insider Activity:
Insiders traded SPRY stock several times over the past three months with 9 Buys and 1 Sells. In these transactions, 7,636,258 shares were bought while 100,000 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 8,044,508 while 500,000 shares were sold.
