Price T Rowe is on a buying spree right now, and has today reported a host of transactions, with a primary focus on the biotech space. Spark Therapeutics was a major benefactor from the spree – here are the details.
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Spark Therapeutics Inc. (NASDAQ:ONCE) reported that Price T Rowe Associates Inc has picked up 3,256,841 of common stock as of 2016-12-12.
The acquisition brings the total amount owned by Price T Rowe Associates Inc to a total of 3,256,841 representing a 10.5% stake in the company.
For those not familiar with the company, 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). Its product candidates include SPK-CHM and SPK-FIX.
A glance at Spark Therapeutics Inc. (NASDAQ:ONCE)’s key stats reveals a current market capitalization of $1.48 billion based on 30.77 million shares outstanding and a price at last close of $51.41 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-10-07, Altschuler picked up 5,000 at a purchase price of $49.11. This brings their total holding to 5,000 as of the date of the filing.
On the sell side, the most recent transaction saw High unload 10,000 shares at a sale price of $60.30. This brings their total holding to 210,000.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Spark Therapeutics Inc. (NASDAQ:ONCE) as things move forward to see if its progress aligns with these transactions.
Subscribe below and we’ll keep you on top of what’s happening before it moves markets.