Spark Therapeutics Inc. (NASDAQ:ONCE) fell 3.4% during trading on Thursday after an insider sold shares in the company. The company traded as low as $59.29 and last traded at $60.84, with a volume of 280,743 shares. The stock had previously closed at $62.97.
Specifically, insider Katherine A. High sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $60.24, for a total transaction of $30,120.00. Following the transaction, the insider now owns 242,290 shares of the company’s stock, valued at $14,595,549.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey D. Marrazzo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $52.53, for a total value of $262,650.00. Following the transaction, the chief executive officer now directly owns 235,000 shares in the company, valued at approximately $12,344,550. The disclosure for this sale can be found here. Company insiders own 9.60% of the company’s stock.
ONCE has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Spark Therapeutics in a research note on Thursday, July 14th. SunTrust Banks Inc. upped their target price on Spark Therapeutics from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, June 21st. Zacks Investment Research raised Spark Therapeutics from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Thursday, August 11th. Stifel Nicolaus initiated coverage on Spark Therapeutics in a research note on Friday, September 2nd. They set a “buy” rating and a $73.00 target price on the stock. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Spark Therapeutics in a research note on Sunday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.50.
The stock has a 50-day moving average of $59.29 and a 200 day moving average of $49.45. The stock’s market cap is $1.86 billion.
Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings results on Wednesday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by $0.07. The company earned $1.29 million during the quarter, compared to analysts’ expectations of $1.17 million. Spark Therapeutics had a negative net margin of 366.76% and a negative return on equity of 26.96%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.60) earnings per share. Equities analysts expect that Spark Therapeutics Inc. will post ($3.96) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Spark Therapeutics during the second quarter worth $124,000. Teacher Retirement System of Texas raised its position in shares of Spark Therapeutics by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,432 shares of the company’s stock worth $124,000 after buying an additional 299 shares in the last quarter. Legal & General Group Plc raised its position in shares of Spark Therapeutics by 105.6% in the second quarter. Legal & General Group Plc now owns 2,714 shares of the company’s stock worth $138,000 after buying an additional 1,394 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Spark Therapeutics by 46.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 7,823 shares of the company’s stock worth $231,000 after buying an additional 2,465 shares in the last quarter. Finally, AMG National Trust Bank bought a new position in shares of Spark Therapeutics during the second quarter worth $256,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.
Spark Therapeutics Company Profile
Spark Therapeutics, Inc (Spark) is engaged in developing products in the field of gene therapy. The Company focuses on treating orphan diseases. It has a pipeline of product candidates targeting multiple rare blinding conditions, hematologic disorders and neurodegenerative diseases. Its SPK-RPE65 (voretigene neparvovec) targets genetic blinding conditions known as inherited retinal dystrophies (IRDs).
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