Sarepta Therapeutics (NASDAQ:SRPT) Hits New 12-Month Low – What’s Next?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $98.82 and last traded at $99.69, with a volume of 1639059 shares. The stock had previously closed at $103.03.

Wall Street Analyst Weigh In

SRPT has been the topic of several recent research reports. Scotiabank initiated coverage on Sarepta Therapeutics in a report on Friday. They issued a “sector perform” rating and a $105.00 price target on the stock. Royal Bank of Canada cut their price target on Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Sarepta Therapeutics in a report on Tuesday, February 11th. They issued a “hold” rating and a $136.00 price target on the stock. StockNews.com downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.41.

Sarepta Therapeutics Trading Down 3.2 %

The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 79.75 and a beta of 0.79. The firm has a 50-day moving average price of $113.68 and a 200-day moving average price of $120.98. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling

In other news, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $124.84, for a total transaction of $1,310,820.00. Following the sale, the director now directly owns 22,840 shares of the company’s stock, valued at $2,851,345.60. The trade was a 31.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Simplify Asset Management Inc. raised its position in shares of Sarepta Therapeutics by 84.6% during the third quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock worth $24,105,000 after purchasing an additional 88,474 shares during the period. Geode Capital Management LLC raised its position in Sarepta Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after buying an additional 44,306 shares during the period. Summit Partners Public Asset Management LLC raised its position in Sarepta Therapeutics by 547.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 138,118 shares of the biotechnology company’s stock valued at $17,250,000 after buying an additional 116,800 shares during the period. Larson Financial Group LLC raised its position in Sarepta Therapeutics by 1,649.8% during the third quarter. Larson Financial Group LLC now owns 8,749 shares of the biotechnology company’s stock valued at $1,093,000 after buying an additional 8,249 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Sarepta Therapeutics by 30.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,244 shares of the biotechnology company’s stock valued at $9,772,000 after buying an additional 18,095 shares during the period. 86.68% of the stock is owned by institutional investors and hedge funds.

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.