Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down – Here’s Why

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 changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SRPT. Scotiabank began coverage on shares of Sarepta Therapeutics in a research report on Friday, March 7th. They issued a “sector perform” rating and a $105.00 price objective for the company. HC Wainwright reaffirmed a “sell” rating and set a $75.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, February 27th. Royal Bank of Canada lowered their price objective on Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $202.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, February 27th. Finally, Piper Sandler lowered their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.23.

Sarepta Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 64.66 and a beta of 0.79. The stock has a 50-day moving average price of $111.20 and a 200 day moving average price of $119.57.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction 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 sale, the director now directly owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Sarepta Therapeutics by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,699 shares of the biotechnology company’s stock valued at $571,000 after acquiring an additional 218 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Sarepta Therapeutics in the fourth quarter valued at approximately $244,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sarepta Therapeutics by 11.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 299,301 shares of the biotechnology company’s stock worth $36,392,000 after purchasing an additional 31,098 shares in the last quarter. Woodline Partners LP acquired a new position in Sarepta Therapeutics during the fourth quarter worth $5,713,000. Finally, Vestal Point Capital LP acquired a new position in Sarepta Therapeutics during the fourth quarter worth $30,398,000. Institutional investors and hedge funds 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.