Freestone Grove Partners LP Takes Position in Sarepta Therapeutics, Inc. $SRPT

Freestone Grove Partners LP purchased a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,629 shares of the biotechnology company’s stock, valued at approximately $1,377,000.

Other large investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in Sarepta Therapeutics in the 4th quarter worth about $25,000. iSAM Funds UK Ltd purchased a new stake in shares of Sarepta Therapeutics in the third quarter valued at approximately $25,000. Meeder Asset Management Inc. purchased a new stake in shares of Sarepta Therapeutics in the second quarter valued at approximately $27,000. Ancora Advisors LLC grew its stake in Sarepta Therapeutics by 200.0% in the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Sarepta Therapeutics by 2,098.8% in the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 1,721 shares in the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Price Performance

Shares of SRPT opened at $20.86 on Friday. The company has a 50 day moving average of $17.73 and a two-hundred day moving average of $18.32. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. Sarepta Therapeutics, Inc. has a twelve month low of $14.68 and a twelve month high of $25.32. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -7.19, a price-to-earnings-growth ratio of 0.31 and a beta of 0.23.

Sarepta Therapeutics (NASDAQ:SRPT) last issued 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. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The business had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. During the same period in the prior year, the firm posted $2.02 earnings per share. The business’s quarterly revenue was down 34.3% on a year-over-year basis. As a group, analysts predict that Sarepta Therapeutics, Inc. will post 3.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SRPT. HC Wainwright restated a “buy” rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Wall Street Zen downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research upgraded Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Piper Sandler decreased their price objective on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.06.

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.