Emerald Mutual Fund Advisers Trust cut its stake in Spark Therapeutics Inc. (NASDAQ:ONCE) by 46.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 49,916 shares of the company’s stock after selling 42,444 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Spark Therapeutics were worth $2,552,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ONCE. Metropolitan Life Insurance Co. NY boosted its stake in shares of 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. Capital Fund Management S.A. acquired a new stake in shares of Spark Therapeutics during the second quarter valued at $348,000. Amici Capital LLC acquired a new stake in shares of Spark Therapeutics during the first quarter valued at $443,000. Opus Point Partners Management LLC acquired a new stake in shares of Spark Therapeutics during the first quarter valued at $930,000. Finally, Alps Advisors Inc. boosted its stake in shares of Spark Therapeutics by 26.4% in the second quarter. Alps Advisors Inc. now owns 38,489 shares of the company’s stock valued at $1,968,000 after buying an additional 8,041 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.
Spark Therapeutics Inc. (NASDAQ:ONCE) traded up 1.41% during midday trading on Friday, hitting $61.34. 318,731 shares of the company were exchanged. The firm’s market capitalization is $1.88 billion. The stock has a 50 day moving average of $59.44 and a 200 day moving average of $49.72. Spark Therapeutics Inc. has a 1-year low of $21.20 and a 1-year high of $65.99.
Spark Therapeutics (NASDAQ:ONCE) last released its earnings results on Wednesday, August 10th. The company reported ($1.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $0.07. Spark Therapeutics had a negative net margin of 366.76% and a negative return on equity of 26.96%. The business had revenue of $1.29 million for the quarter, compared to the consensus estimate of $1.17 million. During the same period in the prior year, the business posted ($0.60) EPS. Spark Therapeutics’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts predict that Spark Therapeutics Inc. will post ($3.96) earnings per share for the current fiscal year.
ONCE has been the topic of several analyst reports. Cantor Fitzgerald reissued a “buy” rating on shares of Spark Therapeutics in a research note on Thursday, July 14th. SunTrust Banks Inc. boosted their target price on shares of 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 upgraded shares of Spark Therapeutics from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Thursday, August 11th. Stifel Nicolaus began coverage on shares of Spark Therapeutics in a report on Friday, September 2nd. They issued a “buy” rating and a $73.00 target price on the stock. Finally, Jefferies Group restated a “hold” rating on shares of Spark Therapeutics in a report on Sunday, June 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $59.50.
In related news, CEO Jeffrey D. Marrazzo sold 5,000 shares of the stock in a transaction on Monday, July 18th. The shares were sold at an average price of $52.53, for a total transaction of $262,650.00. Following the transaction, the chief executive officer now owns 235,000 shares of the company’s stock, valued at approximately $12,344,550. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey D. Marrazzo sold 10,000 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $62.68, for a total transaction of $626,800.00. Following the transaction, the chief executive officer now directly owns 240,000 shares in the company, valued at approximately $15,043,200. The disclosure for this sale can be found here. Corporate insiders own 9.60% of the company’s stock.
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).