Eventide Asset Management LLC Sells 58,580 Shares of Sarepta Therapeutics, Inc. $SRPT

Key Points

• Eventide Asset Management LLC reduced its stake in Sarepta Therapeutics by 21.5%, now holding approximately 214,374 shares valued at $13.68 million.
• Currently, Sarepta Therapeutics has a consensus rating of "Hold" and a target price of $43.50, with eight analysts rating it as a Buy.
• Sarepta's latest earnings report revealed a significant revenue increase of 68.4% year-over-year, with earnings per share of $2.02, surpassing expectations.

Eventide Asset Management LLC cut its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 21.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,374 shares of the biotechnology company's stock after selling 58,580 shares during the quarter. Eventide Asset Management LLC owned 0.22% of Sarepta Therapeutics worth $13,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EP Wealth Advisors LLC raised its stake in shares of Sarepta Therapeutics by 2.2% in 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 last quarter. Wealth Enhancement Advisory Services LLC increased its position 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 valued at $571,000 after acquiring an additional 218 shares during the last quarter. UMB Bank n.a. increased its position 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 valued at $51,000 after acquiring an additional 276 shares during the last quarter. State of Alaska Department of Revenue increased its position 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 valued at $713,000 after acquiring an additional 285 shares during the last quarter. Finally, State of Michigan Retirement System increased its position 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 valued at $1,461,000 after acquiring an additional 300 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SRPT. Robert W. Baird increased their price target on Sarepta Therapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Piper Sandler increased their price target on Sarepta Therapeutics to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Sarepta Therapeutics in a research report on Monday, June 16th. JPMorgan Chase & Co. raised Sarepta Therapeutics from an "underweight" rating to a "neutral" rating and set a $24.00 price target for the company in a research report on Tuesday, July 29th. Finally, Bank of America raised their target price on Sarepta Therapeutics to $17.00 and gave the stock an "underperform" rating in a research report on Wednesday, August 20th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $42.36.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock traded down $0.00 during trading hours on Tuesday, reaching $17.60. The company had a trading volume of 2,775,727 shares, compared to its average volume of 6,350,608. Sarepta Therapeutics, Inc. has a one year low of $10.41 and a one year high of $138.81. The business has a fifty day simple moving average of $17.79 and a 200 day simple moving average of $42.86. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.89 and a quick ratio of 1.81. The firm has a market cap of $1.72 billion, a PE ratio of -20.23 and a beta of 0.49.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $1.13. The firm had revenue of $611.09 million during the quarter, compared to analyst estimates of $530.66 million. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.The business's revenue for the quarter was up 68.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal year.

Sarepta Therapeutics Company Profile

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.