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In a recent transaction, Richard E. Lowenthal, President and CEO of ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), sold a significant amount of the company’s stock, totaling over $900,000. The stock was sold at prices between $9.00 and $9.1415 per share.
The operations, which took place between 13 and 15 March, involved the sale of shares held both directly by Lowenthal and indirectly through trusts. On March 13, Lowenthal sold 1,500 shares of stock indirectly held by the Richard E. Lowenthal Charitable Remainder UniTrust, dated January 7, 2020, and 1,300 shares held by the Lowenthal-Tanimoto Family Trust U/A DTD 4/3/2006. The next day, March 14, another 205 and 239 shares of the same trusts were sold respectively.
The largest transactions occurred on March 15, when Lowenthal sold 48,295 shares of Richard E. Lowenthal Charitable Remainder UniTrust and 48,461 shares of Lowenthal-Tanimoto Family Trust, with the weighted average sales prices reported at $9.1415 and $9.1413.
We note that the shares were sold pursuant to a Rule 10b5-1 trading plan, entered into on March 31, 2023. This plan allows company insiders to set a predetermined schedule to sell the company’s shares, reducing the risk of possible charges. of insider trading.
Following these transactions, Lowenthal’s direct ownership in ARS Pharmaceuticals amounts to 4,126,822 shares, while indirect holdings through various trusts amount to several million shares. Footnotes in the SEC filing indicate that Lowenthal is the trustee of the Richard E. Lowenthal Charitable Remainder UniTrust and that he and his wife are trustees of the Lowenthal-Tanimoto Family Trust. Furthermore, shares held by Sarina Tanimoto Charitable Remainder UniTrust, of which Lowenthal’s wife is the trustee, were not part of these transactions.
Investors often keep an eye on insider transactions because they can provide insight into executives’ confidence in the company’s future. However, the existence of a pre-established trading plan such as Rule 10b5-1 may also indicate that transactions have been planned well in advance and may not necessarily reflect a change in outlook.
Insights on InvestingPro
In the context of recent insider transactions at ARS Pharmaceuticals, Inc. (NASDAQ:SPRY), investors may find the latest data from InvestingPro enlightening. Over the trailing twelve months leading up to the third quarter of 2023, SPRY’s financial health and market performance present a mixed picture.
With a market capitalization of $879.33 million, SPRY holds a significant presence in its industry. However, the company’s financial metrics indicate areas of concern. Gross profit margin stands at a worrying -68,286.67%, reflecting challenges in managing costs versus revenues. Meanwhile, the P/E ratio is negative at -15.54, underlining the company’s current lack of profitability. Despite these challenges, SPRY’s liquidity exceeds short-term obligations, suggesting some degree of financial flexibility.
Investors should also keep in mind the stock’s recent performance, with a substantial total price return of 75.82% over the past three months and a return of 26.17% over the past month. This rally took the stock price 94.92% of its 52-week high, indicating strong recent investor interest.
For those looking to delve deeper into ARS Pharmaceuticals, there are additional tips on InvestingPro that may be of interest. For example, SPRY is known for holding more cash than debt, which is an important indicator of financial stability. Additionally, the company characterizes itself as a niche player in its industry, which could have implications for its market strategy and growth potential.
To further explore these insights, including additional tips not covered here, visit InvestingPro’s dedicated page for SPRY at https://www.investing.com/pro/SPRY. For those who are ready to take advantage of the full range of features of InvestingPro, use the coupon code PRONEWS24 to get an additional 10% discount on the annual or biennial Pro and Pro+ subscription. There are 12 other InvestingPro Tips that could provide valuable context for SPRY’s financial and market performance.
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