Fred Alger Management LLC Sells 31,373 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Fred Alger Management LLC trimmed its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 286,879 shares of the biotechnology company’s stock after selling 31,373 shares during the quarter. Fred Alger Management LLC owned about 0.30% of Sarepta Therapeutics worth $35,828,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new position in Sarepta Therapeutics during the 2nd quarter worth $31,000. Huntington National Bank grew its stake in shares of Sarepta Therapeutics by 150.9% during the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 175 shares during the last quarter. Nkcfo LLC purchased a new stake in shares of Sarepta Therapeutics during the second quarter worth about $43,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of Sarepta Therapeutics by 33.3% during the second quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 75 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Sarepta Therapeutics by 105.9% in the 3rd quarter. UMB Bank n.a. now owns 383 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 197 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on SRPT. Robert W. Baird dropped their target price on shares of Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Evercore ISI dropped their price objective on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald upgraded Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $152.00 to $167.00 in a research note on Thursday, November 7th. StockNews.com downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $182.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $175.77.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $133.34 on Friday. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 106.67 and a beta of 0.81. The stock has a 50-day moving average of $122.37 and a 200 day moving average of $131.48. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics, Inc. has a twelve month low of $78.67 and a twelve month high of $173.25.

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.