Sarepta Therapeutics (NASDAQ:SRPT) Trading Up 6.2% – Here’s What Happened

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price shot up 6.2% during trading on Tuesday . The company traded as high as $121.98 and last traded at $121.74. 264,264 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,227,246 shares. The stock had previously closed at $114.65.

Wall Street Analysts Forecast Growth

SRPT has been the subject of a number of recent research reports. Piper Sandler cut their price target on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $182.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Guggenheim raised their target price on Sarepta Therapeutics from $148.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com lowered Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, William Blair raised Sarepta Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.77.

Sarepta Therapeutics Stock Up 5.7 %

The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $13.18 billion, a PE ratio of 110.35 and a beta of 0.81. The business has a 50-day moving average price of $121.90 and a 200-day moving average price of $131.39.

Insider Activity

In related news, CFO Ian Michael Estepan sold 5,985 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.36, for a total value of $822,099.60. Following the transaction, the chief financial officer now directly owns 33,946 shares in the company, valued at approximately $4,662,822.56. This represents a 14.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently modified their holdings of the business. Fifth Third Wealth Advisors LLC purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $607,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Sarepta Therapeutics in the 2nd quarter valued at approximately $4,771,000. Simplify Asset Management Inc. lifted its holdings in shares of Sarepta Therapeutics by 84.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock worth $24,105,000 after acquiring an additional 88,474 shares during the last quarter. Securian Asset Management Inc. purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $1,187,000. Finally, Natixis Advisors LLC purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $1,918,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Sarepta Therapeutics

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.