Castleark Management LLC Acquires Shares of 2,350 Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Castleark Management LLC bought a new position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,350 shares of the biotechnology company’s stock, valued at approximately $304,000.

Several other large investors also recently modified their holdings of SRPT. Principal Securities Inc. acquired a new stake in shares of Sarepta Therapeutics during the 4th quarter worth $26,000. Mather Group LLC. bought a new stake in shares of Sarepta Therapeutics during the 1st quarter worth $28,000. Riggs Asset Managment Co. Inc. lifted its position in shares of Sarepta Therapeutics by 125.0% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after buying an additional 125 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Sarepta Therapeutics by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after buying an additional 87 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Sarepta Therapeutics by 178.7% during the 4th quarter. CWM LLC now owns 577 shares of the biotechnology company’s stock worth $56,000 after buying an additional 370 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Stock Performance

Sarepta Therapeutics stock traded up $1.38 during mid-day trading on Thursday, reaching $143.62. 229,890 shares of the company’s stock were exchanged, compared to its average volume of 1,368,162. The business’s fifty day simple moving average is $138.33 and its 200 day simple moving average is $130.38. The firm has a market capitalization of $13.58 billion, a PE ratio of 1,293.09 and a beta of 0.89. Sarepta Therapeutics, Inc. has a one year low of $55.25 and a one year high of $173.25. The company has a quick ratio of 3.44, a current ratio of 4.05 and a debt-to-equity ratio of 1.18.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.84. The firm had revenue of $413.50 million for the quarter, compared to analyst estimates of $375.52 million. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The business’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the company posted ($1.44) earnings per share. On average, sell-side analysts expect that Sarepta Therapeutics, Inc. will post 3.76 earnings per share for the current year.

Insider Activity

In related news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the transaction, the insider now directly owns 21,261 shares in the company, valued at $3,467,243.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the transaction, the insider now directly owns 21,261 shares in the company, valued at $3,467,243.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the sale, the executive vice president now directly owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The disclosure for this sale can be found here. 7.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on SRPT shares. Royal Bank of Canada upgraded Sarepta Therapeutics from a “sector perform” rating to an “outperform” rating and set a $182.00 price objective for the company in a research report on Monday. Evercore ISI increased their target price on Sarepta Therapeutics from $139.00 to $185.00 and gave the company an “in-line” rating in a research report on Monday, June 24th. Barclays increased their price target on Sarepta Therapeutics from $185.00 to $226.00 and gave the company an “overweight” rating in a research note on Friday, June 21st. Piper Sandler reissued an “overweight” rating and issued a $205.00 price target on shares of Sarepta Therapeutics in a research note on Monday, July 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $128.00 price target on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $187.72.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.