AlphaCentric Advisors LLC Purchases 10,500 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

AlphaCentric Advisors LLC boosted its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 140.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,000 shares of the biotechnology company’s stock after acquiring an additional 10,500 shares during the quarter. Sarepta Therapeutics makes up about 1.7% of AlphaCentric Advisors LLC’s portfolio, making the stock its 12th biggest position. AlphaCentric Advisors LLC’s holdings in Sarepta Therapeutics were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in SRPT. Nordea Investment Management AB boosted its position in Sarepta Therapeutics by 120.6% in the 1st quarter. Nordea Investment Management AB now owns 61,657 shares of the biotechnology company’s stock valued at $8,004,000 after buying an additional 33,711 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $607,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $4,771,000. Securian Asset Management Inc. purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $1,187,000. Finally, Natixis Advisors LLC purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $1,918,000. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT opened at $123.07 on Tuesday. The company’s fifty day moving average price is $127.42 and its 200 day moving average price is $132.77. Sarepta Therapeutics, Inc. has a 1 year low of $75.85 and a 1 year high of $173.25. The company has a market capitalization of $11.74 billion, a PE ratio of 273.49 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $362.90 million for the quarter, compared to the consensus estimate of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.27) earnings per share. On average, research analysts predict that Sarepta Therapeutics, Inc. will post 1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SRPT has been the subject of several research reports. UBS Group upped their price target on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Barclays lowered their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Piper Sandler reduced their price objective on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group started coverage on shares of Sarepta Therapeutics in a research note on Monday, October 21st. They set a “buy” rating and a $165.00 price objective for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $182.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $182.95.

Insider Buying and Selling at Sarepta Therapeutics

In related news, Director Michael Andrew Chambers acquired 37,038 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the acquisition, the director now directly owns 284,034 shares in the company, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the transaction, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Andrew Chambers purchased 37,038 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the purchase, the director now owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.70% of the company’s stock.

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.