Simplify Asset Management Inc. Cuts Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Simplify Asset Management Inc. reduced its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 83.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,779 shares of the biotechnology company’s stock after selling 160,231 shares during the period. Simplify Asset Management Inc.’s holdings in Sarepta Therapeutics were worth $3,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Sarepta Therapeutics by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock worth $544,408,000 after acquiring an additional 543,143 shares in the last quarter. Wellington Management Group LLP raised its stake in Sarepta Therapeutics by 32.3% during the third quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock valued at $340,527,000 after purchasing an additional 665,087 shares in the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 44,306 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Sarepta Therapeutics by 9.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 753,845 shares of the biotechnology company’s stock worth $94,148,000 after buying an additional 63,437 shares in the last quarter. Finally, Erste Asset Management GmbH increased its holdings in shares of Sarepta Therapeutics by 11.3% in the 4th quarter. Erste Asset Management GmbH now owns 708,248 shares of the biotechnology company’s stock worth $86,116,000 after buying an additional 72,183 shares during the last quarter. 86.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler dropped their price target on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Scotiabank cut their target price on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday. Royal Bank of Canada decreased 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $202.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.41.

Sarepta Therapeutics Stock Performance

Shares of SRPT opened at $74.10 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The stock has a 50-day moving average of $107.19 and a two-hundred day moving average of $118.00. The stock has a market cap of $7.19 billion, a P/E ratio of 59.28 and a beta of 0.79. Sarepta Therapeutics, Inc. has a one year low of $73.05 and a one year high of $173.25.

Insider Transactions at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the 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 transaction, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. This represents a 8.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.70% of the company’s stock.

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.