Rhumbline Advisers Sells 88,893 Shares of Sarepta Therapeutics, Inc. $SRPT

Rhumbline Advisers cut its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 33.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 178,421 shares of the biotechnology company’s stock after selling 88,893 shares during the period. Rhumbline Advisers’ holdings in Sarepta Therapeutics were worth $3,438,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new stake in Sarepta Therapeutics during the third quarter worth approximately $33,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Sarepta Therapeutics during the 3rd quarter worth approximately $48,000. AlphaQuest LLC increased its stake in shares of Sarepta Therapeutics by 118.3% in the 3rd quarter. AlphaQuest LLC now owns 2,561 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 1,388 shares in the last quarter. Covestor Ltd increased its stake in shares of Sarepta Therapeutics by 1,081.8% in the 3rd quarter. Covestor Ltd now owns 2,789 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 2,553 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Sarepta Therapeutics by 285.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,089 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 2,288 shares during the period. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $18.97 on Thursday. The company has a fifty day moving average price of $20.57 and a 200-day moving average price of $20.24. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -6.30, a PEG ratio of 0.47 and a beta of 0.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.95 and a quick ratio of 1.79. Sarepta Therapeutics, Inc. has a 1 year low of $10.41 and a 1 year high of $109.55.

Analysts Set New Price Targets

SRPT has been the subject of a number of research reports. HC Wainwright restated a “sell” rating on shares of Sarepta Therapeutics in a report on Tuesday, January 27th. Wells Fargo & Company reduced their target price on Sarepta Therapeutics from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sarepta Therapeutics in a research note on Monday, December 29th. Guggenheim reduced their price objective on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Wedbush boosted their price objective on Sarepta Therapeutics from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.84.

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics news, COO Ian Michael Estepan sold 13,187 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total value of $294,201.97. Following the completion of the sale, the chief operating officer owned 193,300 shares in the company, valued at approximately $4,312,523. This trade represents a 6.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 7.60% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.