Emerald Acquisition Ltd. Acquires New Position in Spark Therapeutics Inc. (ONCE)
Emerald Acquisition Ltd. acquired a new stake in Spark Therapeutics Inc. (NASDAQ:ONCE) during the second quarter, Holdings Channel reports. The institutional investor acquired 12,372 shares of the company’s stock, valued at approximately $633,000.
Other hedge funds also recently modified their holdings of the company. Tocqueville Asset Management L.P. raised its position in Spark Therapeutics by 4.1% in the second quarter. Tocqueville Asset Management L.P. now owns 50,650 shares of the company’s stock valued at $2,590,000 after buying an additional 2,000 shares in the last quarter. Quantbot Technologies LP acquired a new position in Spark Therapeutics during the second quarter valued at about $124,000. Metropolitan Life Insurance Co. NY raised its position 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 in the last quarter. AMG National Trust Bank acquired a new position in Spark Therapeutics during the second quarter valued at about $256,000. Finally, Capital Fund Management S.A. acquired a new position in Spark Therapeutics during the second quarter valued at about $348,000. 78.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Spark Therapeutics Inc. (NASDAQ:ONCE) traded down 2.13% during midday trading on Friday, hitting $55.70. The company had a trading volume of 320,184 shares. The firm’s market capitalization is $1.71 billion. The stock has a 50 day moving average price of $59.77 and a 200 day moving average price of $50.49. Spark Therapeutics Inc. has a 1-year low of $21.20 and a 1-year high of $65.99.
Spark Therapeutics (NASDAQ:ONCE) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.97) by $0.07. Spark Therapeutics had a negative return on equity of 26.96% and a negative net margin of 366.76%. The firm earned $1.29 million during the quarter, compared to analysts’ expectations of $1.17 million. During the same quarter in the previous year, the firm earned ($0.60) earnings per share. Spark Therapeutics’s revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that Spark Therapeutics Inc. will post ($3.96) EPS for the current fiscal year.
ONCE has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $94.00 target price (down from $100.00) on shares of Spark Therapeutics in a report on Thursday, June 23rd. SunTrust Banks Inc. increased their price objective on Spark Therapeutics from $64.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, June 21st. Zacks Investment Research raised Spark Therapeutics from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Thursday, August 11th. Stifel Nicolaus assumed coverage on Spark Therapeutics in a report on Friday, September 2nd. They set a “buy” rating and a $73.00 price objective for the company. Finally, Jefferies Group reissued a “hold” rating on shares of Spark Therapeutics in a report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.50.
In other Spark Therapeutics news, insider Katherine A. High sold 17,610 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $60.02, for a total transaction of $1,056,952.20. Following the completion of the sale, the insider now directly owns 246,017 shares in the company, valued at approximately $14,765,940.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey D. Marrazzo sold 16,530 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $60.02, for a total transaction of $992,130.60. Following the sale, the chief executive officer now owns 242,348 shares of the company’s stock, valued at $14,545,726.96. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by corporate insiders.
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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