Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Short Interest Update

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw a large growth in short interest in 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. Currently, 6.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is presently 3.7 days.

Insider Activity at Sarepta Therapeutics

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

Institutional Trading of Sarepta Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in Sarepta Therapeutics in the first quarter valued at approximately $821,000. Exchange Traded Concepts LLC acquired a new position in shares of Sarepta Therapeutics in the 1st quarter valued at $479,000. Byrne Asset Management LLC acquired a new position in shares of Sarepta Therapeutics in the 1st quarter valued at $30,000. Tobam grew its holdings in shares of Sarepta Therapeutics by 30.7% during the 1st quarter. Tobam now owns 37,808 shares of the biotechnology company’s stock worth $2,413,000 after purchasing an additional 8,886 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Sarepta Therapeutics by 438.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company’s stock worth $45,477,000 after purchasing an additional 580,123 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Sarepta Therapeutics in a research note on Friday, April 11th. They issued an “overweight” rating and a $115.00 price objective on the stock. Morgan Stanley cut their price target on Sarepta Therapeutics from $196.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. HC Wainwright reissued a “neutral” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a report on Wednesday. Scotiabank dropped their target price on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $163.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $161.83.

Sarepta Therapeutics Trading Down 0.3 %

Shares of SRPT stock opened at $53.79 on Friday. Sarepta Therapeutics has a twelve month low of $48.01 and a twelve month high of $173.25. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 43.03 and a beta of 0.93. The company’s 50-day moving average price is $82.21 and its 200-day moving average price is $107.78. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

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.