Spark Therapeutics, Inc. (NASDAQ:ONCE) fell 0.6% during trading on Tuesday following insider selling activity. The company traded as low as $66.13 and last traded at $72.65. 551,300 shares traded hands during mid-day trading, an increase of 39% from the average session volume of 395,797 shares. The stock had previously closed at $72.25.
Specifically, CEO Jeffrey D. Marrazzo sold 21,350 shares of Spark Therapeutics stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $80.01, for a total value of $1,708,213.50. Following the completion of the transaction, the chief executive officer now owns 251,350 shares in the company, valued at approximately $20,110,513.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Barge Joseph La sold 3,309 shares of Spark Therapeutics stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $71.31, for a total value of $235,964.79. Following the completion of the transaction, the insider now owns 8,146 shares of the company’s stock, valued at approximately $580,891.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,099,659 shares of company stock valued at $92,457,658. Insiders own 7.30% of the company’s stock.
A number of research analysts recently issued reports on the company. Cantor Fitzgerald reduced their price objective on Spark Therapeutics from $105.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Cowen and Company restated a “buy” rating and set a $95.00 price objective on shares of Spark Therapeutics in a research report on Tuesday, October 10th. Barclays PLC boosted their price objective on Spark Therapeutics from $104.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, October 13th. Chardan Capital restated a “buy” rating and set a $100.00 price objective on shares of Spark Therapeutics in a research report on Friday, October 13th. Finally, Zacks Investment Research upgraded Spark Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $90.36.
Spark Therapeutics (NASDAQ:ONCE) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) earnings per share for the quarter, missing the consensus estimate of ($1.79) by ($0.11). The business had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.40 million. Spark Therapeutics had a negative net margin of 1,090.11% and a negative return on equity of 60.01%. The firm’s revenue was up 45.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.07) EPS. analysts anticipate that Spark Therapeutics, Inc. will post -7.62 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of 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 buying an additional 213,520 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 96,803 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Spark Therapeutics by 15.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,848,988 shares of the biotechnology company’s stock worth $164,986,000 after buying an additional 241,016 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Spark Therapeutics in the 2nd quarter worth $30,848,000. Finally, Victory Capital Management Inc. raised its stake in shares of Spark Therapeutics by 1.2% in the 2nd quarter. Victory Capital Management Inc. now owns 417,410 shares of the biotechnology company’s stock worth $24,936,000 after buying an additional 4,750 shares in the last quarter. 77.94% of the stock is currently owned by institutional investors.
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About Spark Therapeutics
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.
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