Bank of America Corp DE Increases Stock Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Bank of America increased its Sarepta Therapeutics stake by 26.6% in the first quarter, adding 450,336 shares to own 2.15 million shares worth approximately $46.7 million, or 2.03% of the company.
• Institutional ownership remains high at 86.68%, with several hedge funds and investment firms also increasing their positions during recent quarters.
• Analyst sentiment is mixed, with nine Buy, five Hold, and six Sell ratings; MarketBeat reports a consensus Hold rating and a $25.06 target price, while the stock recently traded near $18.38.

Bank of America Corp DE increased its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,145,926 shares of the biotechnology company's stock after buying an additional 450,336 shares during the period. Bank of America Corp DE owned 2.03% of Sarepta Therapeutics worth $46,695,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Sarepta Therapeutics by 214.2% in the 1st quarter. AQR Capital Management LLC now owns 5,385 shares of the biotechnology company's stock worth $344,000 after purchasing an additional 3,671 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Sarepta Therapeutics during the first quarter valued at about $224,000. Guggenheim Capital LLC lifted its holdings in shares of Sarepta Therapeutics by 33.5% in the second quarter. Guggenheim Capital LLC now owns 45,790 shares of the biotechnology company's stock worth $783,000 after buying an additional 11,497 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Sarepta Therapeutics by 59.2% in the second quarter. First Trust Advisors LP now owns 627,561 shares of the biotechnology company's stock worth $10,731,000 after buying an additional 233,391 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Sarepta Therapeutics by 7.1% in the second quarter. California Public Employees Retirement System now owns 115,340 shares of the biotechnology company's stock valued at $1,972,000 after acquiring an additional 7,665 shares during the period. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research lowered shares of Sarepta Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 7th. Piper Sandler cut their price target on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Weiss Ratings lowered shares of Sarepta Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, August 5th. Wolfe Research upgraded shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price target for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $25.06.

Sarepta Therapeutics Trading Up 0.9%

Shares of Sarepta Therapeutics stock opened at $18.38 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. Sarepta Therapeutics, Inc. has a 1 year low of $14.68 and a 1 year high of $25.32. The firm has a market cap of $1.94 billion, a PE ratio of -6.34, a PEG ratio of 0.24 and a beta of 0.23. The company has a 50 day simple moving average of $17.00 and a two-hundred day simple moving average of $18.42.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta's core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company's mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta's commercial products include several exon-skipping therapies approved by the U.S.

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