Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down – Here’s Why

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) gapped down before the market opened on Monday . The stock had previously closed at $70.41, but opened at $65.90. Sarepta Therapeutics shares last traded at $65.52, with a volume of 314,930 shares changing hands.

Wall Street Analyst Weigh In

SRPT has been the subject of several analyst reports. Scotiabank decreased their target price on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research note on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada lowered shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $161.00 to $87.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $164.05.

Sarepta Therapeutics Stock Down 3.0 %

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 stock has a 50 day simple moving average of $100.47 and a 200 day simple moving average of $115.03. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 49.53 and a beta of 0.79.

Insider Buying and Selling

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the sale, the director now owns 27,812 shares of the company’s stock, valued at $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System grew its position in Sarepta Therapeutics by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 26,500 shares of the biotechnology company’s stock valued at $3,222,000 after purchasing an additional 100 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Sarepta Therapeutics by 2.2% during the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company’s stock worth $606,000 after purchasing an additional 105 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Sarepta Therapeutics by 36.0% during the 4th quarter. UMB Bank n.a. now owns 521 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 138 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Sarepta Therapeutics by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company’s stock worth $347,000 after acquiring an additional 139 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

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.