California Public Employees Retirement System Sells 38,071 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

California Public Employees Retirement System lessened its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,386 shares of the biotechnology company’s stock after selling 38,071 shares during the quarter. California Public Employees Retirement System owned about 0.14% of Sarepta Therapeutics worth $12,187,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Sarepta Therapeutics by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,572,944 shares of the biotechnology company’s stock valued at $1,039,212,000 after buying an additional 41,465 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Sarepta Therapeutics by 1.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,909,800 shares of the biotechnology company’s stock valued at $473,946,000 after buying an additional 54,698 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Sarepta Therapeutics by 40.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 806,400 shares of the biotechnology company’s stock valued at $97,752,000 after buying an additional 230,618 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sarepta Therapeutics by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 560,351 shares of the biotechnology company’s stock valued at $67,926,000 after buying an additional 6,309 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Sarepta Therapeutics by 29.8% during the 3rd quarter. Barclays PLC now owns 517,286 shares of the biotechnology company’s stock valued at $62,705,000 after buying an additional 118,761 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

Insider Buying and Selling

In related news, insider Bilal Arif sold 2,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $128.84, for a total value of $257,680.00. Following the sale, the insider now directly owns 26,836 shares of the company’s stock, valued at $3,457,550.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Bilal Arif sold 2,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $128.84, for a total value of $257,680.00. Following the sale, the insider now directly owns 26,836 shares of the company’s stock, valued at $3,457,550.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ian Michael Estepan sold 1,200 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $128.30, for a total value of $153,960.00. Following the completion of the sale, the chief financial officer now directly owns 39,114 shares in the company, valued at $5,018,326.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,096 shares of company stock valued at $2,739,419 over the last ninety days. Company insiders own 7.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SRPT shares. Royal Bank of Canada raised their price objective on Sarepta Therapeutics from $151.00 to $157.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. UBS Group boosted their price objective on Sarepta Therapeutics from $164.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, March 1st. BMO Capital Markets started coverage on Sarepta Therapeutics in a research report on Wednesday, January 31st. They issued an “outperform” rating and a $170.00 price objective for the company. Barclays boosted their price objective on Sarepta Therapeutics from $141.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, TheStreet upgraded Sarepta Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $156.60.

Sarepta Therapeutics Price Performance

Shares of Sarepta Therapeutics stock opened at $130.90 on Thursday. The company has a quick ratio of 3.45, a current ratio of 3.95 and a debt-to-equity ratio of 1.32. The company has a market cap of $12.37 billion, a PE ratio of -20.88 and a beta of 0.94. The business has a 50 day moving average of $125.80 and a 200 day moving average of $110.42. Sarepta Therapeutics, Inc. has a 52 week low of $55.25 and a 52 week high of $159.89.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.84. The company had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $375.52 million. Sarepta Therapeutics had a negative return on equity of 18.97% and a negative net margin of 43.11%. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.44) earnings per share. As a group, equities research analysts forecast that Sarepta Therapeutics, Inc. will post 2.13 earnings per share for the current year.

Sarepta Therapeutics Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.