Simplify Asset Management Inc. Has $24.11 Million Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Simplify Asset Management Inc. grew its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 84.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 193,010 shares of the biotechnology company’s stock after buying an additional 88,474 shares during the quarter. Sarepta Therapeutics accounts for 1.1% of Simplify Asset Management Inc.’s holdings, making the stock its 12th biggest position. Simplify Asset Management Inc.’s holdings in Sarepta Therapeutics were worth $24,105,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Sei Investments Co. boosted its stake in Sarepta Therapeutics by 9.5% in the 1st quarter. Sei Investments Co. now owns 61,451 shares of the biotechnology company’s stock worth $7,956,000 after purchasing an additional 5,332 shares during the period. US Bancorp DE grew its holdings in shares of Sarepta Therapeutics by 11.6% during the first quarter. US Bancorp DE now owns 8,415 shares of the biotechnology company’s stock worth $1,089,000 after buying an additional 876 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Sarepta Therapeutics by 10.1% during the first quarter. ProShare Advisors LLC now owns 6,578 shares of the biotechnology company’s stock worth $852,000 after buying an additional 601 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in Sarepta Therapeutics by 44.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 10,096 shares of the biotechnology company’s stock valued at $1,307,000 after buying an additional 3,123 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Sarepta Therapeutics in the 1st quarter valued at approximately $627,000. Institutional investors own 86.68% of the company’s stock.

Insiders Place Their Bets

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. This represents a 14.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.70% of the company’s stock.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT traded down $3.96 during trading hours on Friday, reaching $105.15. 166,825 shares of the stock were exchanged, compared to its average volume of 1,228,510. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 87.29 and a beta of 0.81. The stock’s fifty day simple moving average is $124.21 and its 200 day simple moving average is $132.49. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. Sarepta Therapeutics, Inc. has a 52 week low of $78.67 and a 52 week high of $173.25.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SRPT. Guggenheim lifted their price objective on shares of Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $182.00 price target on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Citigroup decreased their price objective on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Raymond James reiterated an “outperform” rating and set a $150.00 target price on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Finally, Jefferies Financial Group initiated coverage on Sarepta Therapeutics in a research note on Monday, October 21st. They issued a “buy” rating and a $165.00 price target for the company. One research analyst has rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $181.33.

Sarepta Therapeutics 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.