Traders Buy Large Volume of Spark Therapeutics Put Options (ONCE)

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Spark Therapeutics Inc (NASDAQ:ONCE) was the recipient of unusually large options trading on Monday. Investors acquired 581 put options on the stock. This is an increase of 780% compared to the typical volume of 66 put options.

Shares of ONCE stock opened at $44.02 on Tuesday. The stock has a market capitalization of $1.70 billion, a PE ratio of -5.77 and a beta of 2.27. Spark Therapeutics has a one year low of $41.06 and a one year high of $96.59.

Spark Therapeutics (NASDAQ:ONCE) last announced its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.34). The company had revenue of $25.19 million during the quarter, compared to the consensus estimate of $29.44 million. Spark Therapeutics had a negative net margin of 185.46% and a negative return on equity of 17.33%. On average, sell-side analysts predict that Spark Therapeutics will post -1.44 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in ONCE. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Spark Therapeutics in the 3rd quarter valued at about $122,000. Bank of Montreal Can increased its stake in shares of Spark Therapeutics by 1,045.4% in the 3rd quarter. Bank of Montreal Can now owns 3,253 shares of the biotechnology company’s stock valued at $177,000 after acquiring an additional 2,969 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Spark Therapeutics in the 2nd quarter valued at about $203,000. Smith Asset Management Group LP increased its stake in shares of Spark Therapeutics by 39.6% in the 3rd quarter. Smith Asset Management Group LP now owns 3,950 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Spark Therapeutics in the 2nd quarter valued at about $268,000.

Several brokerages have weighed in on ONCE. ValuEngine raised Spark Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research cut Spark Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, October 13th. Guggenheim began coverage on Spark Therapeutics in a report on Tuesday, October 9th. They set a “buy” rating and a $70.00 price objective for the company. Cantor Fitzgerald set a $103.00 price objective on Spark Therapeutics and gave the stock a “buy” rating in a report on Monday, October 8th. Finally, Raymond James reissued a “buy” rating on shares of Spark Therapeutics in a report on Friday, September 21st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $70.10.

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About Spark Therapeutics

Spark Therapeutics, Inc focuses on the development of gene therapy products for patients suffering from debilitating genetic diseases. Its products include LUXTURNA (voretigene neparvovec), which is in Phase III clinical trial for the treatment of genetic blinding conditions caused by mutations in the RPE65 gene; and SPK-CHM that is in Phase I/II clinical trial for the treatment of choroideremia.

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