Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Stock Position Trimmed by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC trimmed its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 30.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,000,000 shares of the biotechnology company’s stock after selling 1,344,444 shares during the period. Sarepta Therapeutics accounts for about 6.3% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Avoro Capital Advisors LLC’s holdings in Sarepta Therapeutics were worth $474,000,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Riggs Asset Managment Co. Inc. raised its position in Sarepta Therapeutics by 33.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 75 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Sarepta Therapeutics by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 87 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Sarepta Therapeutics by 1.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock valued at $1,000,000 after purchasing an additional 120 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of Sarepta Therapeutics by 2.3% in the first quarter. WCM Investment Management LLC now owns 6,279 shares of the biotechnology company’s stock valued at $813,000 after purchasing an additional 142 shares during the period. Finally, Innealta Capital LLC acquired a new position in Sarepta Therapeutics during the second quarter worth about $31,000. 86.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SRPT. Bank of America boosted their price target on Sarepta Therapeutics from $166.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Citigroup dropped their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Leerink Partners boosted their price objective on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Royal Bank of Canada restated an “outperform” rating and set a $181.00 target price on shares of Sarepta Therapeutics in a report on Thursday. Finally, Piper Sandler reduced their price target on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sarepta Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $187.39.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $127.21 on Monday. Sarepta Therapeutics, Inc. has a fifty-two week low of $55.25 and a fifty-two week high of $173.25. The firm’s 50 day moving average is $137.26 and its two-hundred day moving average is $132.75. The company has a market cap of $12.02 billion, a P/E ratio of 1,156.45 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 issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.27) earnings per share. Analysts expect that Sarepta Therapeutics, Inc. will post 1.47 EPS for the current year.

Insider Activity

In other Sarepta Therapeutics news, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the sale, the executive vice president now directly owns 17,129 shares in the company, valued at $2,768,217.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now directly owns 33,946 shares in the company, valued at approximately $4,662,822.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ryan Edward Brown sold 38,957 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the completion of the transaction, the executive vice president now owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company’s stock.

Sarepta Therapeutics Company 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.