Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Up – Here’s Why

by · The Markets Daily

Sarepta Therapeutics, Inc. (NASDAQ:SRPT – Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $106.62, but opened at $110.46. Sarepta Therapeutics shares last traded at $109.60, with a volume of 196,036 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have commented on SRPT shares. StockNews.com lowered Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler decreased their target price on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. UBS Group boosted their price target on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Raymond James reiterated an “outperform” rating and set a $150.00 price target on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $205.00 price objective on shares of Sarepta Therapeutics in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.33.

View Our Latest Research Report on Sarepta Therapeutics

Sarepta Therapeutics Price Performance

The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 85.30 and a beta of 0.81. The stock has a fifty day moving average of $122.85 and a two-hundred day moving average of $132.00.

Insider Activity

In related news, CFO Ian Michael Estepan sold 5,985 shares of the business’s 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 directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. The trade was a 14.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of Sarepta Therapeutics

A number of institutional investors have recently modified their holdings of SRPT. Innealta Capital LLC bought a new stake in Sarepta Therapeutics in the 2nd quarter valued at approximately $31,000. New Covenant Trust Company N.A. bought a new stake in shares of Sarepta Therapeutics in the first quarter worth $32,000. Nkcfo LLC acquired a new position in Sarepta Therapeutics during the second quarter worth $43,000. Sunbelt Securities Inc. grew its position in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 232 shares in the last quarter. Finally, Huntington National Bank increased its stake in Sarepta Therapeutics by 150.9% in the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 175 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Company Profile

(Get Free Report)

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.

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