US Bancorp DE Lowers Stake in Sarepta Therapeutics Inc (SRPT)
US Bancorp DE cut its holdings in shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) by 36.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,460 shares of the biotechnology company’s stock after selling 855 shares during the period. US Bancorp DE’s holdings in Sarepta Therapeutics were worth $193,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Rockefeller Capital Management L.P. purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at $162,000. Kovack Advisors Inc. purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at $217,000. Clarus Wealth Advisors purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at $124,000. XR Securities LLC purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at $248,000. Finally, CAPROCK Group Inc. purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at $257,000. Institutional investors and hedge funds own 90.00% of the company’s stock.
A number of research firms recently weighed in on SRPT. Bank of America began coverage on shares of Sarepta Therapeutics in a research report on Friday. They issued a “buy” rating and a $199.00 price objective on the stock. BidaskClub upgraded shares of Sarepta Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday. Credit Suisse Group began coverage on shares of Sarepta Therapeutics in a research report on Thursday, September 6th. They issued an “outperform” rating and a $178.00 price objective on the stock. HC Wainwright set a $267.00 price objective on shares of Sarepta Therapeutics and gave the company a “buy” rating in a research report on Tuesday, September 4th. Finally, Citigroup began coverage on shares of Sarepta Therapeutics in a research report on Tuesday, August 14th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Sarepta Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $154.21.
Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, August 8th. The biotechnology company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.99). The company had revenue of $73.53 million for the quarter, compared to analysts’ expectations of $71.53 million. Sarepta Therapeutics had a negative return on equity of 19.34% and a negative net margin of 89.64%. Sarepta Therapeutics’s revenue for the quarter was up 110.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. equities research analysts forecast that Sarepta Therapeutics Inc will post -3.69 earnings per share for the current year.
In other news, Director Richard Barry sold 75,000 shares of Sarepta Therapeutics stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $130.34, for a total transaction of $9,775,500.00. Following the completion of the transaction, the director now owns 3,170,432 shares of the company’s stock, valued at approximately $413,234,106.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Alexander Cumbo sold 33,782 shares of Sarepta Therapeutics stock in a transaction on Monday, July 9th. The stock was sold at an average price of $137.32, for a total value of $4,638,944.24. Following the transaction, the senior vice president now directly owns 40,690 shares of the company’s stock, valued at approximately $5,587,550.80. The disclosure for this sale can be found here. Insiders have sold a total of 158,782 shares of company stock worth $21,237,444 over the last 90 days. Insiders own 7.90% of the company’s stock.
Sarepta Therapeutics Profile
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.
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