Sarepta Therapeutics (NASDAQ:SRPT) Sees Large Volume Increase – Here’s Why

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw an uptick in trading volume on Wednesday . 1,129,778 shares traded hands during trading, a decline of 4% from the previous session’s volume of 1,179,263 shares.The stock last traded at $77.46 and had previously closed at $73.54.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SRPT shares. Piper Sandler cut their target price on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada lowered their target price on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a report on Tuesday. Finally, HC Wainwright reissued a “sell” rating and set a $75.00 price objective on shares of Sarepta Therapeutics in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $168.55.

Sarepta Therapeutics Trading Up 8.5 %

The company has a market capitalization of $7.74 billion, a PE ratio of 63.82 and a beta of 0.79. The stock has a fifty day moving average of $110.18 and a two-hundred day moving average of $119.13. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling

In related news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction dated Wednesday, March 12th. The stock was 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 in the company, valued at $2,771,187.68. This represents a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Manchester Capital Management LLC lifted 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 buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 156 shares during the period. Sunbelt Securities Inc. boosted its holdings 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 acquiring an additional 232 shares in the last quarter. Huntington National Bank increased its position 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 period. Finally, Newbridge Financial Services Group Inc. bought a new position in Sarepta Therapeutics in the 4th quarter worth $36,000. Institutional investors own 86.68% of the company’s stock.

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.