Sarepta Therapeutics (NASDAQ:SRPT) Shares Down 5% – Here’s What Happened

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) dropped 5% on Monday . The company traded as low as $126.19 and last traded at $126.69. Approximately 135,497 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,241,097 shares. The stock had previously closed at $133.34.

Analyst Upgrades and Downgrades

SRPT has been the subject of several research analyst reports. StockNews.com cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald upgraded shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $152.00 to $167.00 in a research report on Thursday, November 7th. Barclays dropped their target price on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC decreased their price target on shares of Sarepta Therapeutics from $205.00 to $202.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Finally, UBS Group increased their price objective on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics has an average rating of “Moderate Buy” and an average target price of $175.55.

Sarepta Therapeutics Stock Down 1.5 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The company has a 50-day simple moving average of $122.57 and a 200-day simple moving average of $131.40. The firm has a market cap of $12.04 billion, a PE ratio of 100.81 and a beta of 0.77.

Institutional Inflows and Outflows

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

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.