Prime Capital Investment Advisors LLC Cuts Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Prime Capital Investment Advisors LLC decreased its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 29.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,405 shares of the biotechnology company’s stock after selling 3,574 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Sarepta Therapeutics were worth $1,328,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SRPT. Innealta Capital LLC acquired a new position in shares of Sarepta Therapeutics in the second quarter worth $31,000. Mather Group LLC. acquired a new position in Sarepta Therapeutics during the 1st quarter worth $28,000. Riggs Asset Managment Co. Inc. increased its holdings in Sarepta Therapeutics by 125.0% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 125 shares during the period. New Covenant Trust Company N.A. acquired a new stake in Sarepta Therapeutics in the 1st quarter valued at about $32,000. Finally, Principal Securities Inc. purchased a new position in shares of Sarepta Therapeutics in the 4th quarter valued at about $26,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Citigroup reduced their target price on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, June 27th. UBS Group increased their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird boosted their target price on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Finally, Evercore ISI upgraded shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and dropped their price target for the company from $185.00 to $179.00 in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.39.

Insiders Place Their Bets

In other news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics 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 sale, the chief financial officer now owns 33,946 shares of the company’s stock, valued at $4,662,822.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the transaction, the insider now owns 21,261 shares in the company, valued at $3,467,243.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,801 shares of company stock worth $8,399,586. 7.70% of the stock is owned by insiders.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $125.69 on Wednesday. The firm has a market cap of $11.88 billion, a P/E ratio of 1,142.45 and a beta of 0.81. Sarepta Therapeutics, Inc. has a 52-week low of $55.25 and a 52-week high of $173.25. The business’s 50-day moving average price is $139.24 and its 200 day moving average price is $132.69. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business had revenue of $362.90 million for the quarter, compared to analyst estimates of $394.38 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, equities research analysts expect that Sarepta Therapeutics, Inc. will post 1.47 earnings per share for the current year.

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.