Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 4% After Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price traded down 4% during trading on Thursday after Scotiabank lowered their price target on the stock from $105.00 to $80.00. Scotiabank currently has a sector perform rating on the stock. Sarepta Therapeutics traded as low as $78.68 and last traded at $76.78. 123,747 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,192,278 shares. The stock had previously closed at $79.97.

A number of other equities analysts have also recently issued reports on SRPT. StockNews.com cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $163.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday. Piper Sandler decreased their price objective on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, HC Wainwright restated a “sell” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $167.41.

Insider Buying and Selling

In related news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the sale, the director now owns 27,812 shares of the company’s stock, valued at $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SRPT. Capital International Investors lifted its stake in shares of Sarepta Therapeutics by 38.9% in the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after buying an additional 2,437,855 shares in the last quarter. Norges Bank bought a new position in shares of Sarepta Therapeutics in the fourth quarter worth approximately $126,315,000. Wellington Management Group LLP lifted its stake in shares of Sarepta Therapeutics by 32.3% in the third quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock worth $340,527,000 after buying an additional 665,087 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of Sarepta Therapeutics in the third quarter worth approximately $79,425,000. Finally, Janus Henderson Group PLC lifted its stake in shares of Sarepta Therapeutics by 14.2% in the third quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock worth $544,408,000 after buying an additional 543,143 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Trading Up 0.9 %

The firm’s 50 day moving average price is $107.19 and its 200-day moving average price is $118.11. The stock has a market cap of $7.19 billion, a P/E ratio of 59.28 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03.

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.