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

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $22.50, but opened at $19.86. Sarepta Therapeutics shares last traded at $20.50, with a volume of 770,363 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Zacks Research raised shares of Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Benchmark reiterated a “sell” rating on shares of Sarepta Therapeutics in a research report on Wednesday. Wolfe Research raised shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $25.69.

Sarepta Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. The company has a market cap of $2.33 billion, a PE ratio of -7.59, a PEG ratio of 0.30 and a beta of 0.27. The stock’s 50-day moving average is $18.50 and its 200 day moving average is $18.55.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.42. The company had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. Sarepta Therapeutics’s revenue was down 34.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 EPS. On average, equities analysts anticipate that Sarepta Therapeutics, Inc. will post 3.52 earnings per share for the current fiscal year.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Sarepta Therapeutics by 7.8% in the first quarter. PNC Financial Services Group Inc. now owns 8,751 shares of the biotechnology company’s stock valued at $190,000 after purchasing an additional 636 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Sarepta Therapeutics by 3.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company’s stock worth $396,000 after purchasing an additional 744 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sarepta Therapeutics by 1.8% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,208 shares of the biotechnology company’s stock valued at $829,000 after buying an additional 758 shares in the last quarter. Larson Financial Group LLC lifted its stake in Sarepta Therapeutics by 82.5% in the 4th quarter. Larson Financial Group LLC now owns 1,882 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 851 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Sarepta Therapeutics by 3.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 28,787 shares of the biotechnology company’s stock worth $626,000 after buying an additional 875 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Company 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.