State Street Corp Acquires 559,342 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

State Street Corp boosted its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 21.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,197,127 shares of the biotechnology company’s stock after buying an additional 559,342 shares during the period. State Street Corp owned about 5.82% of Sarepta Therapeutics worth $94,641,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SRPT. Ameritas Investment Partners Inc. bought a new position in shares of Sarepta Therapeutics during the first quarter valued at about $127,000. PNC Financial Services Group Inc. boosted its position in shares of Sarepta Therapeutics by 150.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 2,800 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Sarepta Therapeutics during the first quarter valued at about $209,000. Baird Financial Group Inc. bought a new position in shares of Sarepta Therapeutics during the first quarter valued at about $223,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Sarepta Therapeutics by 417.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,063 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 10,602 shares during the last quarter. Hedge funds and other institutional investors own 64.58% of the company’s stock.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) traded down 1.05% during trading on Tuesday, hitting $38.69. The stock had a trading volume of 1,685,292 shares. Sarepta Therapeutics, Inc. has a 52-week low of $23.51 and a 52-week high of $63.73. The firm’s market cap is $2.13 billion. The company has a 50-day moving average of $36.43 and a 200 day moving average of $32.68.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million for the quarter, compared to analysts’ expectations of $22.52 million. The business’s revenue for the quarter was up 350000.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.19) EPS. On average, equities research analysts predict that Sarepta Therapeutics, Inc. will post ($1.16) earnings per share for the current fiscal year.

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Several research analysts recently issued reports on the company. BidaskClub cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday. William Blair reissued an “outperform” rating on shares of Sarepta Therapeutics in a research report on Thursday, July 27th. Cowen and Company reissued an “outperform” rating and issued a $69.00 price objective (up previously from $62.00) on shares of Sarepta Therapeutics in a research report on Thursday, July 20th. Zacks Investment Research raised Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $31.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, June 30th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Sarepta Therapeutics presently has a consensus rating of “Buy” and an average target price of $61.28.

In related news, CFO Sandesh Mahatme sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $41.00, for a total transaction of $2,050,000.00. Following the completion of the transaction, the chief financial officer now owns 41,736 shares of the company’s stock, valued at approximately $1,711,176. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Alexander Cumbo sold 5,918 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $41.00, for a total transaction of $242,638.00. Following the completion of the transaction, the senior vice president now directly owns 22,793 shares of the company’s stock, valued at approximately $934,513. The disclosure for this sale can be found here. Insiders have sold a total of 78,056 shares of company stock valued at $3,224,208 in the last ninety days. 9.60% of the stock is currently owned by corporate insiders.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).

Institutional Ownership by Quarter for Sarepta Therapeutics (NASDAQ:SRPT)

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