Fred Alger Management Inc. Sells 30,305 Shares of Spark Therapeutics, Inc. (ONCE)
Fred Alger Management Inc. decreased its position in Spark Therapeutics, Inc. (NASDAQ:ONCE) by 59.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,000 shares of the biotechnology company’s stock after selling 30,305 shares during the quarter. Fred Alger Management Inc. owned 0.07% of Spark Therapeutics worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in Spark Therapeutics by 0.9% in the 1st quarter. FMR LLC now owns 4,656,655 shares of the biotechnology company’s stock worth $248,386,000 after purchasing an additional 40,698 shares during the period. BlackRock Inc. increased its stake in Spark Therapeutics by 11.6% in the 2nd quarter. BlackRock Inc. now owns 2,053,734 shares of the biotechnology company’s stock worth $122,689,000 after purchasing an additional 213,520 shares during the period. Vanguard Group Inc. increased its stake in Spark Therapeutics by 5.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,924,463 shares of the biotechnology company’s stock worth $114,968,000 after purchasing an additional 96,803 shares during the period. JPMorgan Chase & Co. increased its stake in Spark Therapeutics by 3.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,607,972 shares of the biotechnology company’s stock worth $96,060,000 after purchasing an additional 58,879 shares during the period. Finally, Wellington Management Group LLP increased its stake in Spark Therapeutics by 119.5% in the 1st quarter. Wellington Management Group LLP now owns 808,782 shares of the biotechnology company’s stock worth $43,140,000 after purchasing an additional 440,287 shares during the period. Institutional investors own 77.84% of the company’s stock.
In other news, insider Daniel Faga sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $85.00, for a total value of $127,500.00. Following the sale, the insider now directly owns 1,500 shares in the company, valued at $127,500. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Anand Mehra sold 211,858 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $70.15, for a total value of $14,861,838.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,333,195 shares of company stock worth $109,070,506. Company insiders own 7.30% of the company’s stock.
Spark Therapeutics, Inc. (ONCE) opened at 86.39 on Monday. The stock’s market capitalization is $2.70 billion. The stock’s 50 day moving average price is $85.86 and its 200 day moving average price is $85.86. Spark Therapeutics, Inc. has a 1-year low of $35.07 and a 1-year high of $91.00.
Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share for the quarter, missing the consensus estimate of ($1.75) by ($0.14). Spark Therapeutics had a negative return on equity of 59.74% and a negative net margin of 962.72%. The business had revenue of $1.48 million during the quarter, compared to analysts’ expectations of $1.33 million. During the same quarter in the previous year, the company posted ($1.04) earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that Spark Therapeutics, Inc. will post ($7.65) earnings per share for the current fiscal year.
ONCE has been the topic of a number of analyst reports. Cantor Fitzgerald set a $94.00 price target on Spark Therapeutics and gave the stock a “buy” rating in a research note on Monday, July 17th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $95.00 price target (up from $85.00) on shares of Spark Therapeutics in a research note on Monday, September 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $111.00 price target on shares of Spark Therapeutics in a research note on Friday. Zacks Investment Research cut Spark Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, BidaskClub raised Spark Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $88.38.
TRADEMARK VIOLATION WARNING: This article was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/10/09/fred-alger-management-inc-sells-30305-shares-of-spark-therapeutics-inc-once.html.
Spark Therapeutics Company Profile
Spark Therapeutics, Inc is a gene therapy company. 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 pipeline includes a product candidate targeting choroideremia (CHM), which is in a Phase I/II clinical trial and a product candidate for hemophilia A, which is in a Phase I/II clinical trial.
Receive News & Stock Ratings for Spark Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spark Therapeutics Inc. and related stocks with our FREE daily email newsletter.