The Manufacturers Life Insurance Company Lowers Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 16.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,778 shares of the biotechnology company’s stock after selling 14,747 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Sarepta Therapeutics worth $9,339,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings 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 worth $57,356,000 after buying an additional 317,277 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Sarepta Therapeutics by 146.3% during the 2nd quarter. Rhumbline Advisers now owns 270,941 shares of the biotechnology company’s stock worth $42,809,000 after buying an additional 160,942 shares during the period. Blair William & Co. IL lifted its holdings in Sarepta Therapeutics by 303.7% during the second quarter. Blair William & Co. IL now owns 174,282 shares of the biotechnology company’s stock valued at $27,537,000 after purchasing an additional 131,112 shares in the last quarter. Retirement Systems of Alabama acquired a new stake in Sarepta Therapeutics in the 2nd quarter worth about $18,433,000. Finally, abrdn plc boosted its stake in shares of Sarepta Therapeutics by 30.7% in the third quarter. abrdn plc now owns 431,098 shares of the biotechnology company’s stock worth $53,935,000 after acquiring an additional 101,253 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SRPT. Guggenheim upped their price objective on shares of Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Sarepta Therapeutics in a report on Monday, October 21st. They issued a “buy” rating and a $165.00 price objective on the stock. Piper Sandler decreased their price target on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Robert W. Baird reduced their price target on shares of Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, StockNews.com lowered Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $175.55.

Sarepta Therapeutics Stock Down 1.5 %

Shares of NASDAQ SRPT opened at $126.01 on Wednesday. Sarepta Therapeutics, Inc. has a 52-week low of $83.97 and a 52-week high of $173.25. The stock has a market capitalization of $12.04 billion, a PE ratio of 100.81 and a beta of 0.77. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average of $122.56 and a 200-day moving average of $131.44.

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.