Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Shares Sold by Summit Financial LLC

Summit Financial LLC lowered its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 11.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,803 shares of the biotechnology company’s stock after selling 236 shares during the period. Summit Financial LLC’s holdings in Sarepta Therapeutics were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SRPT. Charles Schwab Investment Management Inc. lifted its stake in shares of Sarepta Therapeutics by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company’s stock worth $75,842,000 after buying an additional 12,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Sarepta Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after purchasing an additional 44,306 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Sarepta Therapeutics during the fourth quarter worth approximately $3,829,000. Nordea Investment Management AB boosted its stake in Sarepta Therapeutics by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company’s stock worth $8,228,000 after buying an additional 10,815 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Sarepta Therapeutics by 16,717.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company’s stock worth $10,602,000 after acquiring an additional 84,926 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Insider Transactions at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the transaction, the director now directly owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Sarepta Therapeutics Stock Down 7.1 %

Sarepta Therapeutics stock opened at $54.43 on Friday. The stock has a market cap of $5.28 billion, a PE ratio of 43.54 and a beta of 0.79. 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 stock’s fifty day moving average is $96.95 and its two-hundred day moving average is $113.78. Sarepta Therapeutics, Inc. has a 1-year low of $54.26 and a 1-year high of $173.25.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SRPT. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Royal Bank of Canada cut Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $161.00 to $87.00 in a report on Monday, March 31st. Needham & Company LLC cut their target price on Sarepta Therapeutics from $202.00 to $183.00 and set a “buy” rating for the company in a research note on Thursday. Finally, HC Wainwright raised Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 price target on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.18.

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.