Point72 Asset Management L.P. Trims Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Point72 Asset Management L.P. cut its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 99.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,913 shares of the biotechnology company’s stock after selling 14,156,087 shares during the period. Point72 Asset Management L.P. owned 0.05% of Sarepta Therapeutics worth $7,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors lifted its stake in Sarepta Therapeutics by 160.0% in the 4th quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after purchasing an additional 2,917,797 shares in the last quarter. Farallon Capital Management LLC raised its position in shares of Sarepta Therapeutics by 102.8% in the first quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after buying an additional 1,243,427 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in Sarepta Therapeutics by 7.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock valued at $418,935,000 after buying an additional 319,444 shares during the period. Principal Financial Group Inc. grew its position in Sarepta Therapeutics by 693.7% during the second quarter. Principal Financial Group Inc. now owns 363,011 shares of the biotechnology company’s stock worth $57,356,000 after buying an additional 317,277 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Sarepta Therapeutics by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company’s stock worth $850,139,000 after acquiring an additional 243,180 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Price Performance

Shares of Sarepta Therapeutics stock opened at $122.33 on Wednesday. The company’s fifty day simple moving average is $134.05 and its two-hundred day simple moving average is $132.85. Sarepta Therapeutics, Inc. has a 12-month low of $55.25 and a 12-month high of $173.25. The firm has a market cap of $11.56 billion, a PE ratio of 1,112.09 and a beta of 0.81. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The company had revenue of $362.90 million for the quarter, compared to the consensus estimate of $394.38 million. During the same quarter in the previous year, the business earned ($0.27) EPS. Sarepta Therapeutics’s revenue was up 38.9% compared to the same quarter last year. As a group, equities analysts expect that Sarepta Therapeutics, Inc. will post 1.45 EPS for the current year.

Analyst Ratings Changes

SRPT has been the subject of several recent analyst reports. Piper Sandler cut their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Robert W. Baird increased their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. UBS Group lifted their price objective on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Finally, Evercore ISI upgraded Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and lowered their price target for the company from $185.00 to $179.00 in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.39.

Insider Activity

In related news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Michael Andrew Chambers bought 37,038 shares of the stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the purchase, the director now directly owns 284,034 shares in the company, valued at approximately $38,003,749.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.

About Sarepta Therapeutics

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.