Pinnacle Associates Ltd. Has $11.52 Million Position in Sarepta Therapeutics, Inc. (SRPT)
Pinnacle Associates Ltd. cut its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,816 shares of the biotechnology company’s stock after selling 19,885 shares during the period. Pinnacle Associates Ltd. owned about 0.62% of Sarepta Therapeutics worth $11,523,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the stock. Prentiss Smith & Co. Inc. raised 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 valued at $121,000 after buying an additional 3,166 shares during the period. Ameritas Investment Partners Inc. bought a new position in Sarepta Therapeutics during the first quarter valued at about $127,000. PNC Financial Services Group Inc. raised 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 valued at $138,000 after buying an additional 2,800 shares during the period. Edge Wealth Management LLC bought a new position in Sarepta Therapeutics during the second quarter valued at about $175,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Sarepta Therapeutics during the first quarter valued at about $209,000. Institutional investors own 65.43% of the company’s stock.
Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) opened at 41.23 on Friday. The company’s 50 day moving average price is $38.33 and its 200-day moving average price is $33.71. The firm’s market cap is $2.65 billion. Sarepta Therapeutics, Inc. has a 12-month low of $25.47 and a 12-month high of $63.73.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.46. The company had revenue of $35.01 million for the quarter, compared to analyst estimates of $22.52 million. During the same period in the previous year, the business posted ($1.19) earnings per share. The firm’s revenue was up 350000.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sarepta Therapeutics, Inc. will post ($1.16) EPS for the current year.
Several equities analysts have issued reports on SRPT shares. Piper Jaffray Companies set a $43.00 target price on Sarepta Therapeutics and gave the company a “buy” rating in a research note on Thursday, May 18th. Vetr lowered Sarepta Therapeutics from a “strong-buy” rating to a “buy” rating and set a $36.86 target price on the stock. in a research note on Monday, May 15th. Nomura reiterated a “buy” rating and issued a $84.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, May 23rd. BidaskClub upgraded Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $60.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, June 22nd. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Sarepta Therapeutics presently has an average rating of “Buy” and a consensus target price of $61.28.
In other Sarepta Therapeutics news, SVP Alexander Cumbo sold 5,918 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total transaction of $242,638.00. Following the completion of the sale, the senior vice president now directly owns 22,793 shares of the company’s stock, valued at approximately $934,513. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandesh Mahatme sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $2,050,000.00. Following the sale, the chief financial officer now directly owns 41,736 shares of the company’s stock, valued at $1,711,176. The disclosure for this sale can be found here. Insiders have sold a total of 78,056 shares of company stock valued at $3,224,208 over the last ninety days. 9.60% of the stock is owned by insiders.
Sarepta Therapeutics Company Profile
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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