Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Sees Significant Growth in Short Interest

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,100,000 shares, a growth of 25.8% from the March 15th total of 4,850,000 shares. Approximately 6.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is presently 3.7 days.

Sarepta Therapeutics Trading Up 2.1 %

Shares of Sarepta Therapeutics stock traded up $1.13 during mid-day trading on Monday, hitting $54.92. The stock had a trading volume of 859,502 shares, compared to its average volume of 1,411,407. The firm has a market cap of $5.33 billion, a P/E ratio of 43.94 and a beta of 0.93. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm has a 50-day moving average of $82.21 and a two-hundred day moving average of $107.70. Sarepta Therapeutics has a 12-month low of $48.01 and a 12-month high of $173.25.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the sale, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRPT. Manchester Capital Management LLC grew its holdings in shares of Sarepta Therapeutics by 86.6% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Sarepta Therapeutics by 169.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after buying an additional 156 shares during the period. Byrne Asset Management LLC purchased a new position in Sarepta Therapeutics during the first quarter worth about $30,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sarepta Therapeutics during the fourth quarter valued at about $36,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Sarepta Therapeutics by 164.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 194 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler reduced their price objective on Sarepta Therapeutics from $182.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday. HC Wainwright restated a “neutral” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a research report on Wednesday, April 16th. Morgan Stanley decreased their target price on shares of Sarepta Therapeutics from $196.00 to $182.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Scotiabank cut their price objective on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, March 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $163.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.70.

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.