Connor Clark & Lunn Investment Management Ltd. Takes $17.49 Million Position in Sarepta Therapeutics, Inc. $SRPT

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 973,493 shares of the biotechnology company’s stock, valued at approximately $17,494,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.92% of Sarepta Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Sarepta Therapeutics during the second quarter worth about $341,339,000. AQR Capital Management LLC increased its holdings in shares of Sarepta Therapeutics by 454.6% during the fourth quarter. AQR Capital Management LLC now owns 7,796,535 shares of the biotechnology company’s stock valued at $167,781,000 after acquiring an additional 6,390,860 shares in the last quarter. First Trust Advisors LP raised its position in shares of Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after purchasing an additional 2,143,211 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Sarepta Therapeutics by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company’s stock valued at $254,167,000 after purchasing an additional 993,283 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at approximately $13,912,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $18.92 on Wednesday. The firm has a market capitalization of $2.00 billion, a P/E ratio of -6.52, a PEG ratio of 0.27 and a beta of 0.23. The stock has a 50-day simple moving average of $17.53 and a two-hundred day simple moving average of $18.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.62 and a current ratio of 4.42. Sarepta Therapeutics, Inc. has a fifty-two week low of $14.68 and a fifty-two week high of $25.32.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.42. The firm had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company’s revenue was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 earnings per share. On average, equities analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Wolfe Research raised shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a report on Thursday, July 9th. Zacks Research upgraded shares of Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Piper Sandler cut their target price on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, Sarepta Therapeutics has a consensus rating of “Hold” and an average target price of $25.06.

Sarepta Therapeutics Profile

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.