Assetmark Inc. Cuts Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Key Points

• Assetmark Inc. sold 30,306 shares of Sarepta Therapeutics, reducing its ownership by 70.9%, leaving it with 12,453 shares valued at approximately $795,000.
• Several institutional investors, including EP Wealth Advisors LLC and Mitsubishi UFJ Asset Management Co. Ltd., have increased their stakes in Sarepta Therapeutics during the fourth quarter, highlighting ongoing interest from hedge funds.
• Sarepta Therapeutics' stock has faced recent downgrades, with analysts from Goldman Sachs lowering their rating from "strong-buy" to "hold," and the stock currently trades at $15.91, down 3.1% on the day.

Assetmark Inc. reduced its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 70.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,453 shares of the biotechnology company's stock after selling 30,306 shares during the quarter. Assetmark Inc.'s holdings in Sarepta Therapeutics were worth $795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SRPT. Commonwealth Equity Services LLC boosted its holdings in shares of Sarepta Therapeutics by 22.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,357 shares of the biotechnology company's stock valued at $773,000 after buying an additional 1,151 shares in the last quarter. Sei Investments Co. increased its position in shares of Sarepta Therapeutics by 31.7% during the 4th quarter. Sei Investments Co. now owns 23,935 shares of the biotechnology company's stock valued at $2,910,000 after purchasing an additional 5,764 shares during the last quarter. LPL Financial LLC grew its stake in shares of Sarepta Therapeutics by 12.4% during the 4th quarter. LPL Financial LLC now owns 53,438 shares of the biotechnology company's stock valued at $6,497,000 after acquiring an additional 5,895 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Sarepta Therapeutics by 11.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,429 shares of the biotechnology company's stock valued at $307,000 after acquiring an additional 243 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Sarepta Therapeutics by 72.4% during the 4th quarter. Schroder Investment Management Group now owns 5,523 shares of the biotechnology company's stock valued at $669,000 after buying an additional 2,320 shares in the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SRPT shares. HC Wainwright reissued a "sell" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 29th. Baird R W downgraded Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 18th. Morgan Stanley increased their target price on Sarepta Therapeutics from $15.00 to $20.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. William Blair reiterated an "outperform" rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 29th. Finally, Guggenheim lowered their target price on Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Six analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sarepta Therapeutics presently has an average rating of "Hold" and an average price target of $49.12.

Sarepta Therapeutics Price Performance

Shares of SRPT traded up $0.00 during mid-day trading on Tuesday, hitting $17.10. 3,860,322 shares of the company were exchanged, compared to its average volume of 5,841,688. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02. The company has a 50 day moving average of $23.39 and a 200-day moving average of $59.28. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -6.39 and a beta of 0.46. Sarepta Therapeutics, Inc. has a 1-year low of $10.41 and a 1-year high of $145.00.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($5.62). Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The company had revenue of $744.86 million during the quarter, compared to analysts' expectations of $685.75 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm's quarterly revenue was up 80.2% compared to the same quarter last year. Analysts expect 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.