ING Groep NV Cuts Stock Holdings in Sarepta Therapeutics, Inc. $SRPT

ING Groep NV decreased its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 63.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,362 shares of the biotechnology company’s stock after selling 153,438 shares during the period. ING Groep NV owned about 0.08% of Sarepta Therapeutics worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SRPT. Vanguard Group Inc. lifted its position in Sarepta Therapeutics by 18.1% during the third quarter. Vanguard Group Inc. now owns 10,817,446 shares of the biotechnology company’s stock valued at $208,452,000 after purchasing an additional 1,657,267 shares during the period. First Trust Advisors LP lifted its position in Sarepta Therapeutics by 209.1% during the third quarter. First Trust Advisors LP now owns 1,939,781 shares of the biotechnology company’s stock valued at $37,380,000 after purchasing an additional 1,312,220 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Sarepta Therapeutics by 183.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,745,051 shares of the biotechnology company’s stock valued at $33,627,000 after purchasing an additional 1,129,610 shares during the period. Erste Asset Management GmbH lifted its position in Sarepta Therapeutics by 65.7% during the third quarter. Erste Asset Management GmbH now owns 2,685,945 shares of the biotechnology company’s stock valued at $50,588,000 after purchasing an additional 1,064,530 shares during the period. Finally, Braidwell LP bought a new position in Sarepta Therapeutics during the third quarter valued at approximately $16,035,000. Institutional investors own 86.68% of the company’s stock.

Analysts Set New Price Targets

SRPT has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Sarepta Therapeutics from $26.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, March 12th. Royal Bank Of Canada increased their price target on shares of Sarepta Therapeutics from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $30.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday, March 3rd. Citigroup increased their price target on shares of Sarepta Therapeutics from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings downgraded shares of Sarepta Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.77.

Insider Activity

In other news, Director Stephen Mayo sold 7,239 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $17.02, for a total value of $123,207.78. Following the completion of the sale, the director directly owned 1,765 shares of the company’s stock, valued at $30,040.30. This represents a 80.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.90% of the stock is currently owned by company insiders.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT opened at $15.89 on Wednesday. The firm has a fifty day moving average price of $19.61 and a 200-day moving average price of $19.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.63 and a quick ratio of 2.62. The stock has a market cap of $1.68 billion, a PE ratio of -16.55, a price-to-earnings-growth ratio of 0.16 and a beta of 0.21. Sarepta Therapeutics, Inc. has a 1 year low of $10.41 and a 1 year high of $40.90.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $2.18. The firm had revenue of $730.80 million during the quarter, compared to analysts’ expectations of $474.16 million. Sarepta Therapeutics had a negative net margin of 2.94% and a positive return on equity of 7.56%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.42) earnings per share. Equities analysts anticipate that Sarepta Therapeutics, Inc. will post 3.99 earnings per share for the current fiscal year.

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.