Schwab Charles Investment Management Inc. boosted its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,190 shares of the biotechnology company’s stock after purchasing an additional 10,003 shares during the period. Schwab Charles Investment Management Inc. owned about 0.39% of Sarepta Therapeutics worth $7,255,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Prentiss Smith & Co. Inc. boosted its position in Sarepta Therapeutics by 772.2% in the second quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 3,166 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Sarepta Therapeutics in the first quarter worth $127,000. PNC Financial Services Group Inc. boosted its position in Sarepta Therapeutics by 150.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 2,800 shares during the last quarter. Edge Wealth Management LLC purchased a new position in Sarepta Therapeutics in the second quarter worth $175,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Sarepta Therapeutics in the first quarter worth $209,000. 65.41% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Douglas S. Ingram bought 47,058 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were bought at an average cost of $42.50 per share, for a total transaction of $1,999,965.00. Following the completion of the transaction, the chief executive officer now owns 382,058 shares of the company’s stock, valued at $16,237,465. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Shamim Ruff sold 11,500 shares of Sarepta Therapeutics stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $50.00, for a total value of $575,000.00. The disclosure for this sale can be found here. Insiders have sold 89,556 shares of company stock worth $3,799,208 over the last quarter. 9.60% of the stock is owned by company insiders.
Shares of Sarepta Therapeutics, Inc. (SRPT) opened at 50.71 on Friday. Sarepta Therapeutics, Inc. has a 1-year low of $26.26 and a 1-year high of $58.70. The company’s market capitalization is $3.26 billion. The company’s 50 day moving average price is $43.60 and its 200-day moving average price is $36.33.
Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million for the quarter, compared to analysts’ expectations of $22.52 million. Sarepta Therapeutics’s revenue for the quarter was up 350000.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.19) earnings per share. On average, equities analysts forecast that Sarepta Therapeutics, Inc. will post ($1.22) earnings per share for the current year.
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Several research analysts have weighed in on SRPT shares. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, June 22nd. BidaskClub raised Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $31.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, June 30th. Credit Suisse Group reissued an “outperform” rating and issued a $64.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, June 30th. Finally, Leerink Swann reissued an “outperform” rating on shares of Sarepta Therapeutics in a research report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $64.34.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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