Principal Financial Group Inc. raised its position in Spark Therapeutics, Inc. (NASDAQ:ONCE) by 12.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,689 shares of the biotechnology company’s stock after acquiring an additional 4,937 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Spark Therapeutics worth $2,610,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ONCE. Nationwide Fund Advisors lifted its stake in Spark Therapeutics by 2.5% in the first quarter. Nationwide Fund Advisors now owns 17,298 shares of the biotechnology company’s stock valued at $923,000 after buying an additional 414 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Spark Therapeutics by 10.9% during the first quarter. Bank of New York Mellon Corp now owns 111,043 shares of the biotechnology company’s stock valued at $5,923,000 after purchasing an additional 10,916 shares in the last quarter. American International Group Inc. raised its stake in shares of Spark Therapeutics by 17.4% during the first quarter. American International Group Inc. now owns 11,582 shares of the biotechnology company’s stock valued at $618,000 after purchasing an additional 1,714 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Spark Therapeutics during the first quarter valued at about $572,000. Finally, Wellington Management Group LLP raised its stake in shares of Spark Therapeutics by 119.5% during the first quarter. Wellington Management Group LLP now owns 808,782 shares of the biotechnology company’s stock valued at $43,140,000 after purchasing an additional 440,287 shares in the last quarter. 77.84% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on the company. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $111.00 price target on shares of Spark Therapeutics in a research note on Friday, October 6th. BMO Capital Markets set a $89.00 target price on Spark Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 10th. Cowen and Company reiterated a “buy” rating and set a $95.00 price target on shares of Spark Therapeutics in a report on Tuesday, October 10th. Raymond James Financial, Inc. began coverage on Spark Therapeutics in a report on Thursday, October 12th. They set an “outperform” rating and a $96.00 price target for the company. Finally, Barclays PLC lifted their price target on Spark Therapeutics from $104.00 to $107.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $90.47.
Shares of Spark Therapeutics, Inc. (ONCE) opened at 85.53 on Tuesday. The company’s market capitalization is $2.67 billion. The firm has a 50-day moving average price of $85.85 and a 200-day moving average price of $85.85. Spark Therapeutics, Inc. has a 12 month low of $35.07 and a 12 month high of $91.75.
Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.89) EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $1.48 million during the quarter, compared to analysts’ expectations of $1.33 million. During the same quarter last year, the business earned ($1.04) earnings per share. The business’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts predict that Spark Therapeutics, Inc. will post ($7.59) EPS for the current year.
In other Spark Therapeutics news, Director Anand Mehra sold 211,858 shares of Spark Therapeutics stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $70.15, for a total value of $14,861,838.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine A. High sold 5,000 shares of Spark Therapeutics stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $86.16, for a total transaction of $430,800.00. Following the completion of the sale, the insider now directly owns 215,000 shares of the company’s stock, valued at approximately $18,524,400. The disclosure for this sale can be found here. Insiders have sold 1,333,195 shares of company stock valued at $109,070,506 over the last quarter. Company insiders own 7.30% of the company’s stock.
Spark Therapeutics 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.
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