Fred Alger Management LLC Acquires 60,686 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Fred Alger Management LLC raised its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 23.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 318,252 shares of the biotechnology company’s stock after acquiring an additional 60,686 shares during the period. Fred Alger Management LLC’s holdings in Sarepta Therapeutics were worth $50,284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SRPT. Capital International Investors raised its holdings in Sarepta Therapeutics by 160.0% during the fourth quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after acquiring an additional 2,917,797 shares in the last quarter. Farallon Capital Management LLC increased its position in shares of Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after purchasing an additional 1,243,427 shares during the last quarter. Bank of Nova Scotia bought a new stake in shares of Sarepta Therapeutics during the 4th quarter worth approximately $50,990,000. Avoro Capital Advisors LLC boosted its holdings in shares of Sarepta Therapeutics by 7.9% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock valued at $418,935,000 after buying an additional 319,444 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Sarepta Therapeutics by 693.7% in the second quarter. Principal Financial Group Inc. now owns 363,011 shares of the biotechnology company’s stock valued at $57,356,000 after buying an additional 317,277 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT opened at $125.49 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19. The firm has a market cap of $11.86 billion, a price-to-earnings ratio of 1,140.82 and a beta of 0.81. The stock’s fifty day moving average price is $136.24 and its two-hundred day moving average price is $132.79. Sarepta Therapeutics, Inc. has a one year low of $55.25 and a one year high of $173.25.

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

Insider Buying and Selling at Sarepta Therapeutics

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on SRPT shares. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Sarepta Therapeutics in a research report on Friday, June 21st. UBS Group upped their target price on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Citigroup cut their target price on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Bank of America boosted their price target on Sarepta Therapeutics from $166.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $235.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.39.

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.