New York State Common Retirement Fund Sells 7,923,000 Shares of Sarepta Therapeutics, Inc. $SRPT

New York State Common Retirement Fund cut its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 98.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 129,562 shares of the biotechnology company’s stock after selling 7,923,000 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Sarepta Therapeutics worth $2,216,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in Sarepta Therapeutics in the 2nd quarter worth about $15,619,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Sarepta Therapeutics by 1,736.5% in the second quarter. Y Intercept Hong Kong Ltd now owns 870,181 shares of the biotechnology company’s stock worth $14,880,000 after buying an additional 822,799 shares in the last quarter. Aberdeen Group plc boosted its position in shares of Sarepta Therapeutics by 91.1% in the second quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company’s stock valued at $21,500,000 after acquiring an additional 592,125 shares during the period. Wellington Management Group LLP grew its stake in Sarepta Therapeutics by 27.9% during the first quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock valued at $168,907,000 after acquiring an additional 577,848 shares in the last quarter. Finally, EcoR1 Capital LLC grew its stake in Sarepta Therapeutics by 67.8% during the first quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company’s stock valued at $82,480,000 after acquiring an additional 522,386 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SRPT shares. Wells Fargo & Company lowered their target price on shares of Sarepta Therapeutics from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Sarepta Therapeutics to $12.00 and gave the stock a “sell” rating in a research report on Friday, August 15th. HC Wainwright restated a “sell” rating on shares of Sarepta Therapeutics in a research report on Monday, August 25th. Barclays lowered their price target on Sarepta Therapeutics from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Guggenheim cut their price objective on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.75.

Sarepta Therapeutics Trading Down 1.8%

Shares of SRPT stock opened at $21.86 on Tuesday. The business has a 50-day moving average price of $20.85 and a two-hundred day moving average price of $21.32. Sarepta Therapeutics, Inc. has a 12-month low of $10.41 and a 12-month high of $131.31. The company has a quick ratio of 1.79, a current ratio of 2.95 and a debt-to-equity ratio of 0.78. The firm has a market cap of $2.29 billion, a P/E ratio of -7.26 and a beta of 0.54.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). The firm had revenue of $399.36 million for the quarter, compared to analysts’ expectations of $331.51 million. Sarepta Therapeutics had a negative net margin of 11.25% and a negative return on equity of 4.85%. The business’s quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Equities analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current fiscal year.

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.