Seven Eight Capital LP Raises Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Seven Eight Capital LP increased its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 198.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,684 shares of the biotechnology company’s stock after buying an additional 16,405 shares during the quarter. Seven Eight Capital LP’s holdings in Sarepta Therapeutics were worth $3,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 buying an additional 243,180 shares during the period. Capital International Investors raised its position in shares of Sarepta Therapeutics by 1.6% in the 1st quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock worth $623,676,000 after buying an additional 76,032 shares during the period. Avoro Capital Advisors LLC raised its position in shares of Sarepta Therapeutics by 7.9% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after buying an additional 319,444 shares during the period. Wellington Management Group LLP raised its position in shares of Sarepta Therapeutics by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock worth $398,025,000 after buying an additional 217,810 shares during the period. Finally, Farallon Capital Management LLC raised its position in shares of Sarepta Therapeutics by 102.8% in the 1st 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 during the period. 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 $125.69 on Wednesday. Sarepta Therapeutics, Inc. has a 1-year low of $55.25 and a 1-year high of $173.25. The firm’s 50-day moving average price is $139.24 and its two-hundred day moving average price is $132.69. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 1,142.64 and a beta of 0.81. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The business had revenue of $362.90 million for the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. Sarepta Therapeutics’s revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.27) earnings per share. On average, equities analysts predict that Sarepta Therapeutics, Inc. will post 1.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Sarepta Therapeutics

In other news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the transaction, the insider now directly owns 21,261 shares in the company, valued at approximately $3,467,243.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ryan Edward Brown sold 38,957 shares of the company’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 owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bilal Arif sold 7,859 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the transaction, the insider now owns 21,261 shares of the company’s stock, valued at $3,467,243.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,801 shares of company stock worth $8,399,586. Insiders own 7.70% of the company’s stock.

Wall Street Analyst Weigh In

SRPT has been the topic of several research reports. Citigroup cut their price objective on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets raised their price objective on Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Cantor Fitzgerald cut their price objective on Sarepta Therapeutics from $167.00 to $152.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Piper Sandler cut their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $187.39.

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.