Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Up 6.2% – Here’s Why

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price shot up 6.2% during mid-day trading on Tuesday . The stock traded as high as $121.98 and last traded at $121.74. 264,264 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,227,246 shares. The stock had previously closed at $114.65.

Wall Street Analyst Weigh In

SRPT has been the subject of a number of recent research reports. UBS Group lifted their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Raymond James reiterated an “outperform” rating and set a $150.00 price target on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Evercore ISI reduced their price objective on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Cantor Fitzgerald raised shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $152.00 to $167.00 in a research note on Thursday, November 7th. Finally, HC Wainwright started coverage on shares of Sarepta Therapeutics in a research report on Monday. They issued a “sell” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.73.

Sarepta Therapeutics Stock Performance

The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 98.18 and a beta of 0.81. The stock has a 50 day simple moving average of $121.80 and a 200 day simple moving average of $131.40. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This trade represents a 14.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC boosted its stake in Sarepta Therapeutics by 91.2% during the 3rd quarter. Tidal Investments LLC now owns 5,634 shares of the biotechnology company’s stock valued at $704,000 after purchasing an additional 2,688 shares in the last quarter. World Investment Advisors LLC acquired a new position in Sarepta Therapeutics during the third quarter worth about $2,418,000. Sunbelt Securities Inc. raised its position in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 232 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Sarepta Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after acquiring an additional 44,306 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Sarepta Therapeutics by 8.5% during the 3rd quarter. M&T Bank Corp now owns 4,462 shares of the biotechnology company’s stock valued at $558,000 after purchasing an additional 349 shares in the last quarter. 86.68% of the stock is currently 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.