Summit Partners Public Asset Management LLC Increases Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Summit Partners Public Asset Management LLC lifted its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 547.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 138,118 shares of the biotechnology company’s stock after purchasing an additional 116,800 shares during the period. Summit Partners Public Asset Management LLC’s holdings in Sarepta Therapeutics were worth $17,250,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Alkeon Capital Management LLC grew its position in Sarepta Therapeutics by 13.4% during the third quarter. Alkeon Capital Management LLC now owns 633,845 shares of the biotechnology company’s stock valued at $79,161,000 after acquiring an additional 75,000 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Sarepta Therapeutics in the 3rd quarter valued at about $262,000. Finepoint Capital LP lifted its stake in shares of Sarepta Therapeutics by 0.5% in the 3rd quarter. Finepoint Capital LP now owns 133,535 shares of the biotechnology company’s stock valued at $16,677,000 after purchasing an additional 700 shares in the last quarter. Quantbot Technologies LP purchased a new position in Sarepta Therapeutics in the third quarter valued at approximately $237,000. Finally, Qsemble Capital Management LP purchased a new position in Sarepta Therapeutics in the third quarter valued at approximately $311,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT opened at $137.94 on Friday. The business has a 50 day simple moving average of $122.16 and a 200-day simple moving average of $131.43. Sarepta Therapeutics, Inc. has a twelve month low of $78.67 and a twelve month high of $173.25. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 110.35 and a beta of 0.81. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Analyst Ratings Changes

Several research firms have recently issued reports on SRPT. Needham & Company LLC dropped their price objective on shares of Sarepta Therapeutics from $205.00 to $202.00 and set a “buy” rating for the company in a research report on Wednesday. Guggenheim upped their price target on shares of Sarepta Therapeutics from $148.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Raymond James reissued an “outperform” rating and issued a $150.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, October 10th. Cantor Fitzgerald raised Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $152.00 to $167.00 in a research report on Thursday, November 7th. Finally, Evercore ISI lowered their target price on Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.77.

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.