Sarepta Therapeutics (NASDAQ:SRPT) Trading Down 6.7% – Here’s What Happened

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares traded down 6.7% on Monday . The stock traded as low as $23.15 and last traded at $22.2250. 191,939 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,444,709 shares. The stock had previously closed at $23.83.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Robert W. Baird lowered their price objective on shares of Sarepta Therapeutics from $21.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d)” rating on shares of Sarepta Therapeutics in a research report on Monday, December 29th. BMO Capital Markets raised shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, September 22nd. HC Wainwright reiterated a “sell” rating on shares of Sarepta Therapeutics in a research report on Wednesday. Finally, Mizuho upgraded Sarepta Therapeutics from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $26.00 in a research report on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.68.

Sarepta Therapeutics Trading Up 6.2%

The company’s 50 day simple moving average is $20.64 and its 200-day simple moving average is $19.64. The firm has a market cap of $2.39 billion, a P/E ratio of -7.57, a P/E/G ratio of 0.47 and a beta of 0.48. The company has a quick ratio of 1.79, a current ratio of 2.95 and a debt-to-equity ratio of 0.78.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Monday, November 3rd. The biotechnology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). Sarepta Therapeutics had a negative net margin of 11.25% and a negative return on equity of 4.85%. The business had revenue of $399.36 million for the quarter, compared to the consensus estimate of $331.51 million. During the same period in the prior year, the company posted $0.62 EPS. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. As a group, research analysts predict that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sarepta Therapeutics news, COO Ian Michael Estepan sold 13,187 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $22.31, for a total value of $294,201.97. Following the sale, the chief operating officer owned 193,300 shares in the company, valued at $4,312,523. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sarepta Therapeutics by 54.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 463,342 shares of the biotechnology company’s stock worth $29,570,000 after purchasing an additional 164,041 shares during the period. Tempus Wealth Planning LLC raised its stake in Sarepta Therapeutics by 475.8% in the second quarter. Tempus Wealth Planning LLC now owns 20,658 shares of the biotechnology company’s stock worth $353,000 after buying an additional 17,070 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Sarepta Therapeutics by 21.8% in the second quarter. Assenagon Asset Management S.A. now owns 867,939 shares of the biotechnology company’s stock worth $14,842,000 after buying an additional 155,358 shares in the last quarter. CWM LLC lifted its holdings in Sarepta Therapeutics by 4,033.3% during the third quarter. CWM LLC now owns 72,705 shares of the biotechnology company’s stock worth $1,401,000 after buying an additional 70,946 shares during the period. Finally, Aberdeen Group plc boosted its position in Sarepta Therapeutics by 91.1% during the 2nd quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company’s stock valued at $21,500,000 after acquiring an additional 592,125 shares in the last quarter. 86.68% of the stock is currently owned by 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.