Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down – Time to Sell?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares gapped down before the market opened on Tuesday . The stock had previously closed at $101.35, but opened at $78.62. Sarepta Therapeutics shares last traded at $79.25, with a volume of 2,825,667 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SRPT shares. Scotiabank initiated coverage on shares of Sarepta Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $105.00 target price on the stock. Piper Sandler reduced their target price on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. StockNews.com cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $202.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $168.55.

Sarepta Therapeutics Trading Up 8.7 %

The business’s 50 day moving average price is $109.26 and its two-hundred day moving average price is $118.86. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 63.98 and a beta of 0.79. 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 Activity at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the firm’s 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 transaction, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. raised its holdings in Sarepta Therapeutics by 21.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,700 shares of the biotechnology company’s stock worth $212,000 after purchasing an additional 300 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Sarepta Therapeutics by 3.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock worth $557,000 after purchasing an additional 145 shares during the last quarter. Huntington National Bank raised its holdings in Sarepta Therapeutics by 150.9% during the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 175 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Sarepta Therapeutics by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock worth $339,000 after purchasing an additional 86 shares during the last quarter. Finally, Commerce Bank raised its holdings in Sarepta Therapeutics by 15.7% during the 3rd quarter. Commerce Bank now owns 2,016 shares of the biotechnology company’s stock worth $252,000 after purchasing an additional 274 shares during the last quarter. Institutional investors own 86.68% 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.