ADAR1 Capital Management LLC Raises Holdings in Sarepta Therapeutics, Inc. $SRPT

Key Points

• ADAR1 Capital Management LLC significantly increased its holdings in Sarepta Therapeutics, acquiring 82,919 shares and boosting its stake by 207.3% to 122,921 shares, which are now valued at approximately $7.8 million.
• Several other institutional investors also enhanced their positions in Sarepta Therapeutics, with notable increases from Farallon Capital Management (up 11.1%) and Wellington Management (up 27.9%).
• Sarepta Therapeutics reported a substantial year-over-year revenue increase of 68.4%, with quarterly revenues reaching $611.09 million and earnings per share of $2.02, beating analysts' expectations.

ADAR1 Capital Management LLC boosted its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 207.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 122,921 shares of the biotechnology company's stock after purchasing an additional 82,919 shares during the period. Sarepta Therapeutics comprises approximately 1.5% of ADAR1 Capital Management LLC's portfolio, making the stock its 16th largest position. ADAR1 Capital Management LLC owned 0.13% of Sarepta Therapeutics worth $7,845,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC purchased a new position in shares of Sarepta Therapeutics during the first quarter worth $30,000. Center for Financial Planning Inc. acquired a new position in Sarepta Therapeutics during the 1st quarter worth about $31,000. Logan Capital Management Inc. purchased a new position in Sarepta Therapeutics during the 4th quarter valued at about $61,000. Pandora Wealth Inc. acquired a new position in Sarepta Therapeutics in the 1st quarter valued at about $45,000. Finally, Brooklyn Investment Group increased its stake in Sarepta Therapeutics by 450.4% during the first quarter. Brooklyn Investment Group now owns 721 shares of the biotechnology company's stock worth $46,000 after purchasing an additional 590 shares during the period. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on SRPT. BMO Capital Markets raised their price objective on shares of Sarepta Therapeutics from $25.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. HC Wainwright reissued a "sell" rating on shares of Sarepta Therapeutics in a research report on Monday, August 25th. Oppenheimer upgraded shares of Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $30.00 to $37.00 in a research note on Tuesday, July 29th. Mizuho reiterated a "neutral" rating and issued a $14.00 target price (down from $40.00) on shares of Sarepta Therapeutics in a report on Monday, July 21st. Finally, TD Cowen downgraded Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price target on the stock. in a report on Wednesday, June 18th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $43.50.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock traded up $0.25 during trading hours on Friday, reaching $18.71. 5,173,257 shares of the company's stock were exchanged, compared to its average volume of 8,848,577. The company's 50 day moving average is $17.78 and its two-hundred day moving average is $43.93. The company has a market cap of $1.83 billion, a P/E ratio of -21.51 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.89 and a quick ratio of 1.81. Sarepta Therapeutics, Inc. has a 1 year low of $10.41 and a 1 year high of $138.81.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $1.13. The business had revenue of $611.09 million for the quarter, compared to analysts' expectations of $530.66 million. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The business's revenue for the quarter was up 68.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 EPS. Equities research analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current fiscal year.

About Sarepta Therapeutics

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; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.