Principal Financial Group Inc. Acquires 244,181 Shares of Sarepta Therapeutics, Inc. $SRPT

Principal Financial Group Inc. grew its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 109.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 468,067 shares of the biotechnology company’s stock after buying an additional 244,181 shares during the period. Principal Financial Group Inc. owned 0.48% of Sarepta Therapeutics worth $9,020,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Sarepta Therapeutics by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,875,997 shares of the biotechnology company’s stock valued at $32,085,000 after purchasing an additional 55,076 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Sarepta Therapeutics by 347.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,308,199 shares of the biotechnology company’s stock worth $22,370,000 after buying an additional 1,016,069 shares during the last quarter. Norges Bank bought a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth about $15,619,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Sarepta Therapeutics by 1,736.5% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 870,181 shares of the biotechnology company’s stock worth $14,880,000 after buying an additional 822,799 shares during the period. Finally, 683 Capital Management LLC grew its stake in Sarepta Therapeutics by 309.1% in the 2nd quarter. 683 Capital Management LLC now owns 675,000 shares of the biotechnology company’s stock valued at $11,542,000 after buying an additional 510,000 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $17.40 on Friday. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -5.78, a PEG ratio of 0.45 and a beta of 0.39. Sarepta Therapeutics, Inc. has a fifty-two week low of $10.41 and a fifty-two week high of $111.21. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.79 and a current ratio of 2.95. The stock has a fifty day moving average price of $21.20 and a 200-day moving average price of $20.10.

Analyst Ratings Changes

SRPT has been the subject of several research reports. Robert W. Baird cut their price objective on shares of Sarepta Therapeutics from $21.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Wedbush lifted their price target on Sarepta Therapeutics from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Piper Sandler boosted their price target on Sarepta Therapeutics from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Mizuho upgraded Sarepta Therapeutics from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $19.00 to $26.00 in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company dropped their target price on Sarepta Therapeutics from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.84.

Insiders Place Their Bets

In other Sarepta Therapeutics news, COO Ian Michael Estepan sold 13,187 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total transaction of $294,201.97. Following the sale, the chief operating officer directly owned 193,300 shares in the company, valued at $4,312,523. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.60% of the stock is owned by corporate insiders.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.