Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down – Should You Sell?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $22.50, but opened at $19.86. Sarepta Therapeutics shares last traded at $20.50, with a volume of 770,363 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SRPT. Zacks Research upgraded Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Wall Street Zen cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Piper Sandler reduced their price target on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. HC Wainwright reissued a “buy” rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. 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 analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.06.

Sarepta Therapeutics Stock Performance

The firm has a market cap of $2.15 billion, a P/E ratio of -6.96, a PEG ratio of 0.32 and a beta of 0.27. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average is $18.37 and its two-hundred day moving average is $18.50.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.42. The firm had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company’s revenue for the quarter was down 34.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 EPS. As a group, equities analysts predict that Sarepta Therapeutics, Inc. will post 3.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SRPT. Kestra Advisory Services LLC bought a new position in Sarepta Therapeutics during the 4th quarter valued at $25,000. iSAM Funds UK Ltd bought a new stake in shares of Sarepta Therapeutics in the 3rd quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter worth $27,000. Ancora Advisors LLC raised its holdings in shares of Sarepta Therapeutics by 200.0% in the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Sarepta Therapeutics by 2,098.8% in the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 1,721 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

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.