TimesSquare Capital Management LLC Acquires New Holdings in Sarepta Therapeutics Inc (SRPT)
TimesSquare Capital Management LLC acquired a new position in Sarepta Therapeutics Inc (NASDAQ:SRPT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 474,450 shares of the biotechnology company’s stock, valued at approximately $21,521,000. TimesSquare Capital Management LLC owned 0.73% of Sarepta Therapeutics as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new stake in Sarepta Therapeutics in the third quarter worth about $204,000. Ameritas Investment Partners Inc. lifted its holdings in Sarepta Therapeutics by 6.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the biotechnology company’s stock worth $154,000 after purchasing an additional 271 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Sarepta Therapeutics by 116.4% in the second quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 2,474 shares during the period. Strs Ohio acquired a new stake in Sarepta Therapeutics in the third quarter worth about $208,000. Finally, Brighton Jones LLC acquired a new stake in Sarepta Therapeutics in the third quarter worth about $211,000. 73.84% of the stock is owned by institutional investors and hedge funds.
Shares of Sarepta Therapeutics Inc (NASDAQ SRPT) opened at $56.61 on Monday. Sarepta Therapeutics Inc has a 1-year low of $26.26 and a 1-year high of $57.57. The company has a quick ratio of 9.52, a current ratio of 10.44 and a debt-to-equity ratio of 0.04.
Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.66. Sarepta Therapeutics had a negative net margin of 103.87% and a negative return on equity of 35.62%. The company had revenue of $45.95 million during the quarter, compared to the consensus estimate of $41.29 million. During the same period in the prior year, the company earned ($0.95) EPS. research analysts forecast that Sarepta Therapeutics Inc will post -3.11 EPS for the current fiscal year.
In other news, CEO Douglas S. Ingram acquired 38,138 shares of Sarepta Therapeutics stock in a transaction on Wednesday, November 8th. The stock was bought at an average cost of $52.44 per share, with a total value of $1,999,956.72. Following the completion of the purchase, the chief executive officer now owns 420,196 shares of the company’s stock, valued at $22,035,078.24. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Shamim Ruff sold 10,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the sale, the senior vice president now directly owns 37,045 shares of the company’s stock, valued at $2,037,475. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by corporate insiders.
SRPT has been the subject of several research analyst reports. Zacks Investment Research raised shares of Sarepta Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Nomura reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Sarepta Therapeutics in a report on Tuesday, September 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $101.00 price objective on shares of Sarepta Therapeutics in a report on Wednesday, September 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company’s stock. Sarepta Therapeutics has a consensus rating of “Buy” and a consensus target price of $63.59.
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About Sarepta Therapeutics
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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