Profund Advisors LLC trimmed its position in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,171 shares of the biotechnology company’s stock after selling 1,295 shares during the quarter. Profund Advisors LLC’s holdings in Sarepta Therapeutics were worth $2,609,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in SRPT. BNP Paribas Arbitrage SA boosted its stake in Sarepta Therapeutics by 3.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,676 shares of the biotechnology company’s stock worth $319,000 after purchasing an additional 98 shares during the period. Janney Montgomery Scott LLC boosted its stake in Sarepta Therapeutics by 2.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 4,078 shares of the biotechnology company’s stock worth $620,000 after purchasing an additional 109 shares during the period. Nisa Investment Advisors LLC boosted its stake in Sarepta Therapeutics by 10.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,325 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 125 shares during the period. World Asset Management Inc boosted its stake in Sarepta Therapeutics by 6.1% in the 2nd quarter. World Asset Management Inc now owns 2,312 shares of the biotechnology company’s stock worth $351,000 after purchasing an additional 132 shares during the period. Finally, BB&T Corp boosted its stake in Sarepta Therapeutics by 3.4% in the 2nd quarter. BB&T Corp now owns 4,405 shares of the biotechnology company’s stock worth $669,000 after purchasing an additional 143 shares during the period. 96.10% of the stock is owned by institutional investors.
Shares of NASDAQ SRPT traded down $1.15 during midday trading on Friday, reaching $86.83. 37,613 shares of the stock traded hands, compared to its average volume of 2,244,961. The stock has a market capitalization of $6.77 billion, a PE ratio of -16.05 and a beta of 2.19. The company’s 50 day moving average is $115.87 and its 200 day moving average is $125.74. Sarepta Therapeutics Inc has a one year low of $83.62 and a one year high of $165.87. The company has a debt-to-equity ratio of 0.44, a current ratio of 8.81 and a quick ratio of 7.84.
Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.08) by ($2.66). The company had revenue of $94.67 million during the quarter, compared to the consensus estimate of $91.05 million. Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.67) earnings per share. As a group, equities analysts forecast that Sarepta Therapeutics Inc will post -4.94 EPS for the current year.
In related news, CEO Douglas S. Ingram purchased 16,252 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $123.07 per share, for a total transaction of $2,000,133.64. Following the completion of the transaction, the chief executive officer now directly owns 424,405 shares in the company, valued at $52,231,523.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael W. Bonney purchased 2,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average price of $86.74 per share, with a total value of $173,480.00. Following the completion of the transaction, the director now owns 7,051 shares of the company’s stock, valued at $611,603.74. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 30,752 shares of company stock valued at $3,502,664. 6.60% of the stock is owned by corporate insiders.
Several research analysts have weighed in on SRPT shares. William Blair restated a “buy” rating on shares of Sarepta Therapeutics in a research note on Friday, August 9th. Morgan Stanley upped their price target on Sarepta Therapeutics from $165.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Cantor Fitzgerald dropped their price target on Sarepta Therapeutics from $231.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, August 20th. Bank of America dropped their price target on Sarepta Therapeutics from $200.00 to $189.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Finally, Needham & Company LLC dropped their price target on Sarepta Therapeutics from $196.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $197.78.
Sarepta Therapeutics Company 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.
Recommended Story: The risks of owning bonds
Want to see what other hedge funds are holding SRPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sarepta Therapeutics Inc (NASDAQ:SRPT).
Receive News & Ratings for Sarepta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sarepta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.