Rafferty Asset Management LLC Sells 28,806 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Rafferty Asset Management LLC lessened its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 20.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,236 shares of the biotechnology company’s stock after selling 28,806 shares during the period. Rafferty Asset Management LLC owned 0.11% of Sarepta Therapeutics worth $13,282,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in Sarepta Therapeutics by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 26,500 shares of the biotechnology company’s stock worth $3,222,000 after acquiring an additional 100 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Sarepta Therapeutics by 2.2% in the 4th quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company’s stock worth $606,000 after acquiring an additional 105 shares during the last quarter. Manchester Capital Management LLC grew its holdings in Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. UMB Bank n.a. grew its holdings in Sarepta Therapeutics by 36.0% in the 4th quarter. UMB Bank n.a. now owns 521 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 138 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Sarepta Therapeutics by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company’s stock worth $347,000 after purchasing an additional 139 shares during the period. Institutional investors own 86.68% of the company’s stock.

Insider Activity

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. This represents a 8.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SRPT has been the subject of several research analyst reports. Royal Bank of Canada dropped their target price on shares of Sarepta Therapeutics from $87.00 to $58.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC dropped their target price on shares of Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Oppenheimer dropped their target price on shares of Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald dropped their target price on shares of Sarepta Therapeutics from $163.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Finally, Evercore ISI lowered shares of Sarepta Therapeutics from an “outperform” rating to an “inline” rating and set a $50.00 price objective on the stock. in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.74.

Sarepta Therapeutics Stock Up 3.3%

SRPT opened at $36.43 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average price of $60.11 and a 200-day moving average price of $97.59. Sarepta Therapeutics, Inc. has a twelve month low of $34.10 and a twelve month high of $173.25. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 29.14 and a beta of 0.85.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing the consensus estimate of $2.20 by ($5.62). Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The company had revenue of $744.86 million for the quarter, compared to analysts’ expectations of $685.75 million. During the same period in the previous year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 80.2% on a year-over-year basis. Equities research analysts forecast that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

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.