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

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) 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 traded.

Wall Street Analysts Forecast Growth

SRPT has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $182.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Robert W. Baird lowered their price objective on Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Raymond James restated an “outperform” rating and set a $150.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and set a $205.00 price target on shares of Sarepta Therapeutics in a research report on Thursday, November 7th. Finally, Citigroup cut their price objective on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Two 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. According to data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Sarepta Therapeutics Stock Down 0.3 %

The stock’s fifty day moving average price is $122.21 and its 200-day moving average price is $131.71. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 88.40 and a beta of 0.81. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Insiders Place Their Bets

In other news, CFO Ian Michael Estepan sold 5,985 shares of the company’s stock in a transaction that occurred on 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 owns 33,946 shares in the company, valued at $4,662,822.56. This represents a 14.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $31,000. New Covenant Trust Company N.A. acquired a new stake in shares of Sarepta Therapeutics in the first quarter valued at approximately $32,000. Nkcfo LLC acquired a new position in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $43,000. Sunbelt Securities Inc. raised its stake in Sarepta Therapeutics by 446.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 232 shares during the period. Finally, Huntington National Bank lifted its holdings in Sarepta Therapeutics by 150.9% during the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 175 shares during the last quarter. 86.68% of the stock is owned by institutional investors.

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.