Bank of America Corp DE Purchases Shares of 2,055,985 Sarepta Therapeutics, Inc. $SRPT

Key Points

• Bank of America acquired 2.06 million Sarepta shares worth approximately $36.9 million, giving it a 1.95% stake. Other institutional investors also initiated positions, and institutions collectively own 86.68% of SRPT.
• Analyst sentiment is mixed: eight analysts rate Sarepta a Buy, five Hold, and six Sell. The overall consensus is Hold, with an average price target of $24.07.
• Sarepta reported quarterly revenue of $401.25 million and adjusted EPS of $0.64, exceeding estimates, though revenue fell 34.3% year over year and the company remained unprofitable.

Bank of America Corp DE purchased a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,055,985 shares of the biotechnology company's stock, valued at approximately $36,946,000. Bank of America Corp DE owned approximately 1.95% of Sarepta Therapeutics as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SRPT. Freestone Grove Partners LP acquired a new stake in shares of Sarepta Therapeutics in the 2nd quarter valued at $1,377,000. Man Group plc acquired a new stake in Sarepta Therapeutics during the second quarter worth approximately $7,155,000. Jupiter Topco LLC purchased a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $831,000. ADAR1 Capital Management LLC purchased a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $13,130,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at $1,267,000. Hedge funds and other institutional investors own 86.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating on shares of Sarepta Therapeutics in a research note on Tuesday, July 28th. Benchmark reiterated a "sell" rating on shares of Sarepta Therapeutics in a research report on Wednesday, September 9th. Wall Street Zen cut shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler lowered their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. Finally, Wolfe Research raised Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective for the company in a research note on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $24.07.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $20.14 on Tuesday. Sarepta Therapeutics, Inc. has a 1-year low of $14.68 and a 1-year high of $25.32. The company has a market capitalization of $2.13 billion, a P/E ratio of -6.94, a PEG ratio of 0.29 and a beta of 0.27. The business has a 50 day moving average price of $18.65 and a 200 day moving average price of $18.70. 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 (NASDAQ:SRPT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. During the same period in the previous year, the business earned $2.02 earnings per share. Sarepta Therapeutics's quarterly revenue was down 34.3% compared to the same quarter last year. Sell-side analysts expect that Sarepta Therapeutics, Inc. will post 3.53 EPS for the current fiscal year.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of genetic disorders.

The company's primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.

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