Granite Point Capital Management L.P. boosted its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 170.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,220 shares of the biotechnology company’s stock after purchasing an additional 39,850 shares during the quarter. Sarepta Therapeutics comprises 0.5% of Granite Point Capital Management L.P.’s portfolio, making the stock its 28th largest position. Granite Point Capital Management L.P. owned about 0.12% of Sarepta Therapeutics worth $2,131,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Sarepta Therapeutics by 4,403.1% in the first quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock valued at $156,664,000 after purchasing an additional 5,175,193 shares during the period. Vanguard Group Inc. grew its holdings in Sarepta Therapeutics by 4.5% in the first quarter. Vanguard Group Inc. now owns 4,096,486 shares of the biotechnology company’s stock valued at $121,256,000 after purchasing an additional 176,966 shares during the period. State Street Corp grew its holdings in Sarepta Therapeutics by 21.2% in the first quarter. State Street Corp now owns 3,197,127 shares of the biotechnology company’s stock valued at $94,641,000 after purchasing an additional 559,342 shares during the period. Camber Capital Management LLC purchased a new stake in Sarepta Therapeutics in the first quarter valued at approximately $39,960,000. Finally, Emerald Advisers Inc. PA grew its holdings in Sarepta Therapeutics by 6.9% in the second quarter. Emerald Advisers Inc. PA now owns 875,407 shares of the biotechnology company’s stock valued at $29,510,000 after purchasing an additional 56,702 shares during the period. Hedge funds and other institutional investors own 65.43% of the company’s stock.

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) traded up 2.22% during midday trading on Wednesday, reaching $45.08. 728,287 shares of the company’s stock were exchanged. The company’s market capitalization is $2.90 billion. Sarepta Therapeutics, Inc. has a 1-year low of $25.47 and a 1-year high of $63.73. The firm has a 50-day moving average of $39.38 and a 200-day moving average of $34.33.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, July 19th. The biotechnology company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.46. The firm had revenue of $35.01 million during the quarter, compared to analyst estimates of $22.52 million. Sarepta Therapeutics’s revenue for the quarter was up 350000.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.19) earnings per share. Equities analysts expect that Sarepta Therapeutics, Inc. will post ($1.23) earnings per share for the current fiscal year.

In related news, SVP Alexander Cumbo sold 5,918 shares of Sarepta Therapeutics stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $242,638.00. Following the completion of the sale, the senior vice president now directly owns 22,793 shares in the company, valued at $934,513. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Shamim Ruff sold 12,138 shares of Sarepta Therapeutics stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $42.97, for a total value of $521,569.86. Following the completion of the sale, the senior vice president now owns 27,312 shares of the company’s stock, valued at $1,173,596.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,056 shares of company stock valued at $3,224,208. Corporate insiders own 9.60% of the company’s stock.

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SRPT has been the subject of several research reports. BidaskClub upgraded shares of Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Royal Bank Of Canada reiterated a “buy” rating and set a $60.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, June 22nd. Oppenheimer Holdings, Inc. set a $76.00 price objective on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a research note on Thursday, June 8th. Nomura reiterated a “buy” rating and set a $84.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, May 23rd. Finally, Piper Jaffray Companies set a $43.00 price objective on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a research note on Thursday, May 18th. Nine research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $62.31.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).

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Institutional Ownership by Quarter for Sarepta Therapeutics (NASDAQ:SRPT)

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