Bank of New York Mellon Corp Makes New Investment in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Bank of New York Mellon acquired 774,164 Sarepta Therapeutics shares worth approximately $13.9 million, representing about 0.73% of the company. Institutional investors and hedge funds collectively own 86.68% of SRPT.
• Analyst sentiment remains mixed: nine analysts rate SRPT a Buy, six Hold, and five Sell, resulting in a consensus Hold rating and an average price target of $25.06.
• Sarepta reported quarterly EPS of $0.64, beating estimates of $0.22, while revenue of $401.25 million exceeded expectations but declined 34.3% year over year. The stock opened at $21.33, with a 52-week range of $14.68 to $25.32.

Bank of New York Mellon Corp acquired a new stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 774,164 shares of the biotechnology company's stock, valued at approximately $13,912,000. Bank of New York Mellon Corp owned about 0.73% of Sarepta Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in Sarepta Therapeutics during the fourth quarter valued at $25,000. iSAM Funds UK Ltd bought a new position in shares of Sarepta Therapeutics in the 3rd quarter worth about $25,000. Ancora Advisors LLC boosted its holdings in shares of Sarepta Therapeutics by 200.0% in the 3rd quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company's stock valued at $29,000 after buying an additional 1,000 shares during the period. Allworth Financial LP boosted its holdings in shares of Sarepta Therapeutics by 2,098.8% in the 3rd quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company's stock valued at $35,000 after buying an additional 1,721 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Sarepta Therapeutics by 165.3% in the 3rd quarter. Parallel Advisors LLC now owns 2,016 shares of the biotechnology company's stock valued at $39,000 after buying an additional 1,256 shares during the period. Institutional investors and hedge funds own 86.68% of the company's stock.

Analysts Set New Price Targets

SRPT has been the topic of a number of recent research reports. Piper Sandler cut their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. HC Wainwright reaffirmed a "buy" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Wall Street Zen cut Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Zacks Research raised Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Finally, Weiss Ratings lowered Sarepta Therapeutics from a "sell (d)" rating to a "sell (e+)" rating in a research report on Wednesday, August 19th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $25.06.

Sarepta Therapeutics Stock Up 1.4%

Sarepta Therapeutics stock opened at $21.33 on Wednesday. Sarepta Therapeutics, Inc. has a 52 week low of $14.68 and a 52 week high of $25.32. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -7.36, a PEG ratio of 0.31 and a beta of 0.26. The company's 50-day moving average price is $17.88 and its two-hundred day moving average price is $18.36. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.22 by $0.42. The business had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The business's quarterly revenue was down 34.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.02 earnings per share. On average, analysts expect that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current fiscal year.

Sarepta Therapeutics 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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