Allspring Global Investments Holdings LLC Decreases Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Allspring Global Investments Holdings LLC reduced its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 261,288 shares of the biotechnology company’s stock after selling 12,373 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.28% of Sarepta Therapeutics worth $33,826,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its stake in shares of Sarepta Therapeutics by 152.3% during the third quarter. Envestnet Asset Management Inc. now owns 35,642 shares of the biotechnology company’s stock valued at $4,321,000 after acquiring an additional 21,514 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Sarepta Therapeutics by 26.0% during the 3rd quarter. Hsbc Holdings PLC now owns 2,515 shares of the biotechnology company’s stock worth $305,000 after purchasing an additional 519 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Sarepta Therapeutics by 79.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,239 shares of the biotechnology company’s stock valued at $635,000 after purchasing an additional 2,326 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Sarepta Therapeutics during the 3rd quarter valued at approximately $826,000. Finally, Wellington Management Group LLP grew its position in shares of Sarepta Therapeutics by 1.4% during the third quarter. Wellington Management Group LLP now owns 3,909,800 shares of the biotechnology company’s stock worth $473,946,000 after buying an additional 54,698 shares in the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT opened at $153.11 on Friday. Sarepta Therapeutics, Inc. has a 12-month low of $55.25 and a 12-month high of $173.25. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18. The company has a market cap of $14.47 billion, a PE ratio of 1,391.91 and a beta of 0.89. The stock has a 50 day simple moving average of $132.37 and a 200-day simple moving average of $123.94.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.84. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The company had revenue of $413.50 million during the quarter, compared to analysts’ expectations of $375.52 million. During the same quarter in the prior year, the business posted ($1.44) earnings per share. The company’s revenue for the quarter was up 63.1% compared to the same quarter last year. On average, equities research analysts forecast that Sarepta Therapeutics, Inc. will post 3.76 EPS for the current year.

Insider Buying and Selling at Sarepta Therapeutics

In other news, insider Bilal Arif sold 7,859 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the transaction, the insider now directly owns 21,261 shares in the company, valued at $3,467,243.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Dallan Murray sold 3,635 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $140.00, for a total transaction of $508,900.00. Following the completion of the transaction, the insider now owns 18,125 shares of the company’s stock, valued at $2,537,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the sale, the insider now owns 21,261 shares in the company, valued at $3,467,243.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,451 shares of company stock valued at $8,086,386. Company insiders own 7.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SRPT has been the topic of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 price target on shares of Sarepta Therapeutics in a report on Monday. Mizuho increased their price target on shares of Sarepta Therapeutics from $145.00 to $179.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. SVB Leerink lifted their price target on Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Finally, Robert W. Baird lifted their target price on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $187.72.

Sarepta Therapeutics Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.