Water Island Capital LLC purchased a new stake in shares of Nightstar Therapeutics PLC (NASDAQ:NITE) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 490,993 shares of the company’s stock, valued at approximately $12,456,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Nightstar Therapeutics in the 4th quarter worth approximately $127,000. JPMorgan Chase & Co. bought a new position in shares of Nightstar Therapeutics in the 3rd quarter worth approximately $214,000. Virtus ETF Advisers LLC bought a new position in shares of Nightstar Therapeutics in the 4th quarter worth approximately $314,000. Squarepoint Ops LLC lifted its stake in shares of Nightstar Therapeutics by 106.7% in the 4th quarter. Squarepoint Ops LLC now owns 43,886 shares of the company’s stock worth $506,000 after purchasing an additional 22,651 shares during the period. Finally, Harvest Management LLC bought a new position in shares of Nightstar Therapeutics in the 1st quarter worth approximately $685,000. 45.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Nightstar Therapeutics news, CEO David A. Fellows sold 9,305 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $25.31, for a total transaction of $235,509.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tuyen Ong sold 2,446 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $25.31, for a total transaction of $61,908.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,142 shares of company stock worth $307,314.
Several equities analysts have recently weighed in on NITE shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $42.00 price objective on shares of Nightstar Therapeutics in a research note on Thursday, January 31st. ValuEngine upgraded shares of Nightstar Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, February 14th. Wedbush cut shares of Nightstar Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Monday, March 4th. BMO Capital Markets cut shares of Nightstar Therapeutics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $41.00 to $25.50 in a research note on Monday, March 4th. Finally, UBS Group cut shares of Nightstar Therapeutics from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $21.00 to $25.50 in a research note on Tuesday, March 5th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.06.
NASDAQ NITE traded up $0.01 on Wednesday, reaching $25.44. 1,604 shares of the stock were exchanged, compared to its average volume of 112,688. Nightstar Therapeutics PLC has a one year low of $9.59 and a one year high of $29.55.
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About Nightstar Therapeutics
Nightstar Therapeutics plc, a clinical-stage gene therapy company, focuses on developing and commercializing novel one-time treatments for patients suffering from rare inherited retinal diseases in the United Kingdom. The company's lead product candidate is NSR-REP1, a candidate that is in phase 3 clinical development for the treatment of patients with choroideremia.
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