Shell Asset Management Co. Trims Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Posted by on May 5th, 2023

Shell Asset Management Co. trimmed its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT – Get Rating) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,365 shares of the biotechnology company’s stock after selling 880 shares during the period. Shell Asset Management Co.’s holdings in Sarepta Therapeutics were worth $566,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. ProShare Advisors LLC boosted its stake in shares of Sarepta Therapeutics by 6.2% during the third quarter. ProShare Advisors LLC now owns 8,761 shares of the biotechnology company’s stock valued at $968,000 after acquiring an additional 512 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sarepta Therapeutics by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,069 shares of the biotechnology company’s stock valued at $1,224,000 after buying an additional 305 shares during the period. California Public Employees Retirement System lifted its stake in shares of Sarepta Therapeutics by 13.5% during the third quarter. California Public Employees Retirement System now owns 191,264 shares of the biotechnology company’s stock valued at $21,142,000 after buying an additional 22,766 shares during the period. Armstrong Advisory Group Inc. acquired a new stake in Sarepta Therapeutics during the fourth quarter worth approximately $39,000. Finally, Tudor Investment Corp Et Al purchased a new stake in Sarepta Therapeutics in the 3rd quarter worth approximately $3,896,000. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Sarepta Therapeutics Trading Up 3.8 %

NASDAQ:SRPT opened at $130.17 on Friday. Sarepta Therapeutics, Inc. has a one year low of $61.28 and a one year high of $159.84. The business’s 50-day simple moving average is $134.39 and its 200 day simple moving average is $124.79. The company has a debt-to-equity ratio of 4.01, a quick ratio of 3.80 and a current ratio of 4.13. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of -10.26 and a beta of 1.02.

Sarepta Therapeutics (NASDAQ:SRPT – Get Rating) last released its earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.46) by $0.49. The company had revenue of $253.50 million during the quarter, compared to analysts’ expectations of $241.47 million. Sarepta Therapeutics had a negative return on equity of 117.29% and a negative net margin of 75.40%. The business’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted ($1.20) EPS. As a group, sell-side analysts predict that Sarepta Therapeutics, Inc. will post -4.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SRPT has been the topic of several analyst reports. TD Cowen raised their price objective on Sarepta Therapeutics from $125.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, March 22nd. Royal Bank of Canada lowered their price target on Sarepta Therapeutics from $226.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, March 17th. Mizuho reissued a “buy” rating and issued a $160.00 target price on shares of Sarepta Therapeutics in a research report on Friday, April 14th. Morgan Stanley dropped their price target on shares of Sarepta Therapeutics from $187.00 to $183.00 in a research report on Wednesday, April 12th. Finally, Barclays boosted their price objective on shares of Sarepta Therapeutics from $149.00 to $170.00 in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $167.47.

Sarepta Therapeutics Company Profile

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Sarepta Therapeutics, Inc is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980, and is headquartered in Cambridge, MA.

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

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