Smith Asset Management Group LP Cuts Stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)
Smith Asset Management Group LP lowered its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,160 shares of the biotechnology company’s stock after selling 100 shares during the period. Smith Asset Management Group LP’s holdings in Sarepta Therapeutics were worth $309,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Baird Financial Group Inc. acquired a new stake in shares of Sarepta Therapeutics during the first quarter worth $223,000. Teachers Advisors LLC boosted its stake in shares of Sarepta Therapeutics by 190.1% in the fourth quarter. Teachers Advisors LLC now owns 222,786 shares of the biotechnology company’s stock worth $6,111,000 after buying an additional 146,002 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Sarepta Therapeutics by 39.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,236 shares of the biotechnology company’s stock worth $333,000 after buying an additional 3,173 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Sarepta Therapeutics during the fourth quarter worth $1,346,000. Finally, Camber Capital Management LLC acquired a new stake in shares of Sarepta Therapeutics during the first quarter worth $39,960,000. Hedge funds and other institutional investors own 63.11% of the company’s stock.
Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) opened at 37.82 on Tuesday. The stock’s market cap is $2.43 billion. The firm has a 50-day moving average of $37.11 and a 200-day moving average of $32.92. Sarepta Therapeutics, Inc. has a 52-week low of $24.31 and a 52-week high of $63.73.
Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million during the quarter, compared to analyst estimates of $22.52 million. The firm’s quarterly revenue was up 350000.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.19) EPS. On average, equities analysts expect that Sarepta Therapeutics, Inc. will post ($1.16) EPS for the current fiscal year.
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SRPT has been the subject of a number of research reports. Oppenheimer Holdings, Inc. set a $76.00 target price on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a report on Thursday, June 8th. Robert W. Baird restated an “outperform” rating and set a $102.00 target price on shares of Sarepta Therapeutics in a report on Sunday, April 23rd. Vetr cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $36.86 target price for the company. in a report on Monday, May 22nd. BidaskClub upgraded shares of Sarepta Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of Sarepta Therapeutics from $91.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, April 28th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $61.28.
In other news, SVP Alexander Cumbo sold 5,918 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $41.00, for a total value of $242,638.00. Following the completion of the transaction, the senior vice president now owns 22,793 shares in the company, valued at $934,513. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas S. Ingram purchased 47,058 shares of Sarepta Therapeutics stock in a transaction dated Thursday, July 27th. The stock was bought at an average price of $42.50 per share, with a total value of $1,999,965.00. Following the acquisition, the chief executive officer now directly owns 382,058 shares of the company’s stock, valued at $16,237,465. The disclosure for this purchase can be found here. Insiders sold 78,056 shares of company stock valued at $3,224,208 in the last quarter. Corporate insiders own 9.60% of the company’s stock.
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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