Insider Selling: Spark Therapeutics, Inc. (ONCE) CEO Sells $1,430,800.00 in Stock
Spark Therapeutics, Inc. (NASDAQ:ONCE) CEO Jeffrey D. Marrazzo sold 20,000 shares of Spark Therapeutics stock in a transaction on Monday, November 13th. The stock was sold at an average price of $71.54, for a total value of $1,430,800.00. Following the completion of the sale, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at approximately $17,885,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Spark Therapeutics, Inc. (ONCE) opened at $69.36 on Thursday. Spark Therapeutics, Inc. has a one year low of $47.03 and a one year high of $91.75.
Spark Therapeutics (NASDAQ:ONCE) last released its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.79) by ($0.11). The business had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.40 million. Spark Therapeutics had a negative return on equity of 60.01% and a negative net margin of 1,090.11%. The business’s revenue was up 45.8% on a year-over-year basis. During the same period last year, the company earned ($1.07) EPS. sell-side analysts predict that Spark Therapeutics, Inc. will post -7.67 EPS for the current fiscal year.
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Several analysts recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $101.00 price objective on shares of Spark Therapeutics in a report on Wednesday. Chardan Capital raised Spark Therapeutics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $100.00 in a report on Tuesday, August 8th. SunTrust Banks, Inc. set a $101.00 price objective on Spark Therapeutics and gave the stock a “buy” rating in a report on Monday, October 16th. Zacks Investment Research lowered Spark Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $95.00 price objective (up previously from $75.00) on shares of Spark Therapeutics in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $90.36.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its stake in shares of Spark Therapeutics by 23.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 389 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Spark Therapeutics in the second quarter worth about $143,000. Teacher Retirement System of Texas bought a new position in shares of Spark Therapeutics in the third quarter worth about $225,000. Prudential Financial Inc. bought a new position in shares of Spark Therapeutics in the third quarter worth about $239,000. Finally, Commonwealth Equity Services Inc bought a new position in shares of Spark Therapeutics in the third quarter worth about $257,000. 77.94% of the stock is owned by hedge funds and other institutional investors.
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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