Sofinnova Investments Inc. Sells 31,636 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Sofinnova Investments Inc. reduced its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 13.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 195,852 shares of the biotechnology company’s stock after selling 31,636 shares during the quarter. Sarepta Therapeutics makes up about 1.6% of Sofinnova Investments Inc.’s holdings, making the stock its 18th biggest holding. Sofinnova Investments Inc.’s holdings in Sarepta Therapeutics were worth $30,945,000 as of its most recent filing with the Securities and Exchange Commission.

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

Sarepta Therapeutics Stock Down 0.3 %

SRPT stock opened at $124.33 on Tuesday. The stock has a market capitalization of $11.75 billion, a P/E ratio of 1,130.27 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19. Sarepta Therapeutics, Inc. has a 1-year low of $55.25 and a 1-year high of $173.25. The business has a fifty day moving average price of $139.24 and a 200-day moving average price of $132.69.

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, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. Sarepta Therapeutics’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.27) EPS. Equities analysts forecast that Sarepta Therapeutics, Inc. will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of Sarepta Therapeutics stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the sale, the insider now owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $822,099.60. Following the completion of the transaction, the chief financial officer now directly owns 33,946 shares in the company, valued at $4,662,822.56. The disclosure for this sale can be found here. Insiders sold 52,801 shares of company stock valued at $8,399,586 over the last three months. Insiders own 7.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SRPT shares. BMO Capital Markets raised their target price on Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. William Blair upgraded shares of Sarepta Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Robert W. Baird increased their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Piper Sandler dropped their price objective on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $186.22.

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.