ADAR1 Capital Management LLC Acquires 82,919 Shares of 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 lifted its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 207.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,921 shares of the biotechnology company's stock after purchasing an additional 82,919 shares during the period. Sarepta Therapeutics accounts for approximately 1.5% of ADAR1 Capital Management LLC's investment portfolio, making the stock its 16th biggest holding. ADAR1 Capital Management LLC owned approximately 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 made changes to their positions in the company. EP Wealth Advisors LLC increased its stake in shares of Sarepta Therapeutics by 2.2% during the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company's stock worth $606,000 after purchasing an additional 105 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Sarepta Therapeutics by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,699 shares of the biotechnology company's stock worth $571,000 after purchasing an additional 218 shares during the period. UMB Bank n.a. increased its stake in shares of Sarepta Therapeutics by 53.0% during the first quarter. UMB Bank n.a. now owns 797 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 276 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Sarepta Therapeutics by 2.6% during the first quarter. State of Alaska Department of Revenue now owns 11,175 shares of the biotechnology company's stock worth $713,000 after purchasing an additional 285 shares during the period. Finally, State of Michigan Retirement System increased its stake in shares of Sarepta Therapeutics by 1.3% during the first quarter. State of Michigan Retirement System now owns 22,900 shares of the biotechnology company's stock worth $1,461,000 after purchasing an additional 300 shares during the period. Institutional investors own 86.68% of the company's stock.

Analyst Ratings Changes

SRPT has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Sarepta Therapeutics in a research note on Tuesday, June 17th. They set a "peer perform" rating on the stock. Piper Sandler raised their price objective on Sarepta Therapeutics to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Baird R W lowered Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 18th. Robert W. Baird raised their price objective on Sarepta Therapeutics from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Finally, Sanford C. Bernstein initiated coverage on Sarepta Therapeutics in a research note on Tuesday, July 29th. They set a "market perform" rating and a $13.00 price objective on the stock. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of "Hold" and an average target price of $43.50.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT traded up $0.25 during mid-day trading on Friday, hitting $18.71. 5,173,257 shares of the stock traded hands, compared to its average volume of 8,848,577. 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 twelve month low of $10.41 and a twelve month high of $138.81. The company has a market cap of $1.83 billion, a PE ratio of -21.51 and a beta of 0.49. The firm has a 50 day simple moving average of $17.78 and a two-hundred day simple moving average of $44.36.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $0.89 by $1.13. The company had revenue of $611.09 million for the quarter, compared to the consensus estimate of $530.66 million. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.Sarepta Therapeutics's revenue for the quarter was up 68.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. As a group, equities research analysts forecast 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.