Sarepta Therapeutics (NASDAQ:SRPT) Hits New 52-Week Low – Here’s What Happened

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $50.61 and last traded at $52.05, with a volume of 920758 shares. The stock had previously closed at $54.43.

Analyst Ratings Changes

SRPT has been the topic of several recent research reports. Scotiabank reduced their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of 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 lowered their price target on shares of Sarepta Therapeutics from $202.00 to $183.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, HC Wainwright raised Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 price objective on the stock in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $163.18.

Sarepta Therapeutics Stock Performance

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 business has a fifty day moving average price of $90.64 and a 200-day moving average price of $111.23. The stock has a market capitalization of $5.40 billion, a P/E ratio of 44.52 and a beta of 0.93.

Insider Buying and Selling

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

Institutional Trading of Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its position in Sarepta Therapeutics by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 26,500 shares of the biotechnology company’s stock valued at $3,222,000 after acquiring an additional 100 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Sarepta Therapeutics by 2.2% in the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company’s stock valued at $606,000 after purchasing an additional 105 shares during the period. Manchester Capital Management LLC raised its stake in shares of Sarepta Therapeutics by 86.6% in the fourth 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 last quarter. UMB Bank n.a. lifted its holdings in shares of Sarepta Therapeutics by 36.0% during the fourth quarter. UMB Bank n.a. now owns 521 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 138 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Sarepta Therapeutics by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company’s stock valued at $347,000 after buying an additional 139 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other 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.