Commerce Bank Makes New Investment in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Posted by Defense World Staff on Aug 11th, 2023

Commerce Bank acquired a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,564 shares of the biotechnology company’s stock, valued at approximately $216,000.

Several other hedge funds have also bought and sold shares of SRPT. GPS Wealth Strategies Group LLC purchased a new stake in Sarepta Therapeutics in the 1st quarter worth approximately $55,000. Valley National Advisers Inc. lifted its position in shares of Sarepta Therapeutics by 42.6% during the 1st quarter. Valley National Advisers Inc. now owns 479 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 143 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Sarepta Therapeutics by 16.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 685 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 97 shares in the last quarter. CI Investments Inc. lifted its position in shares of Sarepta Therapeutics by 166.4% during the 4th quarter. CI Investments Inc. now owns 722 shares of the biotechnology company’s stock valued at $94,000 after buying an additional 451 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new position in shares of Sarepta Therapeutics during the 1st quarter valued at approximately $94,000. Hedge funds and other institutional investors own 85.59% of the company’s stock.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Hans Lennart Rudolf Wigzell sold 15,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $106.72, for a total transaction of $1,600,800.00. Following the sale, the director now directly owns 20,994 shares in the company, valued at $2,240,479.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group increased their target price on Sarepta Therapeutics from $160.00 to $173.00 in a research report on Monday, May 15th. Cantor Fitzgerald decreased their target price on Sarepta Therapeutics from $165.00 to $158.00 in a research report on Wednesday, May 3rd. Bank of America increased their target price on Sarepta Therapeutics from $176.00 to $186.00 in a research report on Friday, June 23rd. Royal Bank of Canada increased their target price on Sarepta Therapeutics from $221.00 to $223.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $185.00 price objective on shares of Sarepta Therapeutics in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $173.70.

Read Our Latest Report on Sarepta Therapeutics

Sarepta Therapeutics Stock Up 2.6 %

Shares of SRPT opened at $106.00 on Friday. The firm has a market cap of $9.33 billion, a P/E ratio of -10.29 and a beta of 0.98. Sarepta Therapeutics, Inc. has a 12-month low of $100.15 and a 12-month high of $159.89. The company’s 50-day moving average price is $114.37 and its 200 day moving average price is $125.44. The company has a current ratio of 4.96, a quick ratio of 4.50 and a debt-to-equity ratio of 1.67.

Sarepta Therapeutics (NASDAQ:SRPT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.89) by $1.62. The company had revenue of $261.20 million for the quarter, compared to analyst estimates of $255.99 million. Sarepta Therapeutics had a negative net margin of 90.46% and a negative return on equity of 91.22%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.65) earnings per share. On average, sell-side analysts forecast that Sarepta Therapeutics, Inc. will post -9.37 earnings per share for the current year.

Sarepta Therapeutics Profile

(Free Report)

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; and AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene.