Connor Clark & Lunn Investment Management Ltd. Invests $17.49 Million in Sarepta Therapeutics, Inc. $SRPT

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 973,493 shares of the biotechnology company’s stock, valued at approximately $17,494,000.

Several other institutional investors also recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in Sarepta Therapeutics in the 4th quarter worth about $25,000. iSAM Funds UK Ltd purchased a new stake in Sarepta Therapeutics during the 3rd quarter worth approximately $25,000. Ancora Advisors LLC raised its holdings in shares of Sarepta Therapeutics by 200.0% during the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Sarepta Therapeutics during the second quarter valued at approximately $27,000. Finally, Allworth Financial LP raised its holdings in shares of Sarepta Therapeutics by 2,098.8% during the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 1,721 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 $18.92 on Wednesday. The company’s 50-day moving average is $17.53 and its two-hundred day moving average is $18.26. Sarepta Therapeutics, Inc. has a 1-year low of $14.68 and a 1-year high of $25.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -6.52, a PEG ratio of 0.27 and a beta of 0.23.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.42. The business had revenue of $401.25 million during the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The business’s revenue was down 34.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.02 EPS. Analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SRPT. Zacks Research raised Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Wolfe Research raised Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Thursday, July 9th. HC Wainwright restated a “buy” rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Piper Sandler decreased their price objective on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Sarepta Therapeutics has a consensus rating of “Hold” and an average price target of $25.06.

Sarepta Therapeutics 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.