Spark Therapeutics Inc. (ONCE) Shares Down 3.4% Following Insider Selling
Spark Therapeutics Inc. (NASDAQ:ONCE) dropped 3.4% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $59.29 and last traded at $60.84, with a volume of 280,743 shares traded. The stock had previously closed at $62.97.
Specifically, Director Anand Mehra sold 22,665 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $60.03, for a total transaction of $1,360,579.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barge Joseph La sold 3,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $60.14, for a total value of $180,420.00. Following the sale, the insider now directly owns 8,325 shares of the company’s stock, valued at $500,665.50. The disclosure for this sale can be found here. Corporate insiders own 9.60% of the company’s stock.
ONCE has been the subject of a number of research analyst reports. Wedbush reaffirmed an “underperform” rating and set a $29.00 price target on shares of Spark Therapeutics in a research report on Monday, June 13th. Cantor Fitzgerald reissued a “buy” rating on shares of Spark Therapeutics in a research report on Monday, June 13th. Jefferies Group reissued a “hold” rating on shares of Spark Therapeutics in a research report on Sunday, June 12th. SunTrust Banks Inc. raised their target price on Spark Therapeutics from $64.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, June 21st. Finally, Royal Bank Of Canada assumed coverage on Spark Therapeutics in a research report on Tuesday, July 12th. They issued an “outperform” rating and a $70.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Spark Therapeutics presently has an average rating of “Hold” and a consensus target price of $59.50.
The stock’s 50 day moving average is $59.35 and its 200-day moving average is $49.53. The firm’s market capitalization is $1.85 billion.
Spark Therapeutics (NASDAQ:ONCE) last announced its earnings results on Wednesday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $0.07. The firm earned $1.29 million during the quarter, compared to analyst estimates of $1.17 million. Spark Therapeutics had a negative net margin of 366.76% and a negative return on equity of 26.96%. Spark Therapeutics’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned ($0.60) earnings per share. On average, equities research analysts expect that Spark Therapeutics Inc. will post ($3.96) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in ONCE. DIAM Co. Ltd. bought a new stake in Spark Therapeutics during the second quarter valued at approximately $2,263,000. Metropolitan Life Insurance Co. NY increased its stake in Spark Therapeutics by 46.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 7,823 shares of the company’s stock valued at $231,000 after buying an additional 2,465 shares during the last quarter. Opus Point Partners Management LLC bought a new stake in Spark Therapeutics during the first quarter valued at approximately $930,000. DekaBank Deutsche Girozentrale increased its stake in Spark Therapeutics by 29.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 13,800 shares of the company’s stock valued at $679,000 after buying an additional 3,100 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Spark Therapeutics by 7.3% in the first quarter. UBS Asset Management Americas Inc. now owns 152,972 shares of the company’s stock valued at $4,514,000 after buying an additional 10,472 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.
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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