Duality Advisers LP acquired a new position in shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,423 shares of the biotechnology company’s stock, valued at approximately $1,671,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors boosted its stake in Sarepta Therapeutics by 60.8% in the first quarter. Capital Research Global Investors now owns 3,874,958 shares of the biotechnology company’s stock valued at $379,048,000 after acquiring an additional 1,465,905 shares during the last quarter. Norges Bank bought a new position in Sarepta Therapeutics during the fourth quarter valued at $74,343,000. Janus Henderson Group PLC grew its holdings in Sarepta Therapeutics by 11.1% during the first quarter. Janus Henderson Group PLC now owns 3,523,983 shares of the biotechnology company’s stock valued at $344,715,000 after purchasing an additional 353,301 shares during the period. Capital International Investors purchased a new stake in Sarepta Therapeutics in the first quarter worth $14,157,000. Finally, First Trust Advisors LP raised its stake in shares of Sarepta Therapeutics by 26.1% in the second quarter. First Trust Advisors LP now owns 669,036 shares of the biotechnology company’s stock valued at $107,273,000 after buying an additional 138,658 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.
In related news, EVP David T. Howton sold 105,122 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $170.88, for a total transaction of $17,963,247.36. Following the completion of the sale, the executive vice president now directly owns 33,151 shares in the company, valued at approximately $5,664,842.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Barry sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $141.26, for a total value of $4,237,800.00. Following the transaction, the director now owns 3,163,813 shares in the company, valued at $446,920,224.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,122 shares of company stock worth $22,954,247. 5.90% of the stock is owned by insiders.
SRPT opened at $153.52 on Friday. The company has a current ratio of 8.31, a quick ratio of 7.75 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $11.97 billion, a P/E ratio of -17.39 and a beta of 1.92. The stock has a 50-day moving average price of $163.95 and a 200-day moving average price of $131.17. Sarepta Therapeutics Inc has a 12-month low of $72.05 and a 12-month high of $175.00.
Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, May 6th. The biotechnology company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($2.17) by $1.94. Sarepta Therapeutics had a negative return on equity of 64.67% and a negative net margin of 160.96%. The company had revenue of $113.67 million during the quarter, compared to the consensus estimate of $118.18 million. During the same quarter in the previous year, the company posted ($1.07) EPS. Sarepta Therapeutics’s quarterly revenue was up 30.6% compared to the same quarter last year. On average, equities research analysts predict that Sarepta Therapeutics Inc will post -7.35 EPS for the current year.
Several brokerages recently weighed in on SRPT. BidaskClub lowered Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Sarepta Therapeutics from $160.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, June 22nd. Mizuho reiterated a “buy” rating and issued a $183.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, April 30th. Robert W. Baird restated a “buy” rating and set a $192.00 price target on shares of Sarepta Therapeutics in a research note on Monday, June 8th. Finally, Bank of America reiterated a “buy” rating and issued a $180.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $195.65.
Sarepta Therapeutics Profile
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.
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