Freestone Grove Partners LP Acquires Shares of 76,629 Sarepta Therapeutics, Inc. $SRPT

Key Points

• Freestone Grove Partners LP acquired 76,629 Sarepta Therapeutics shares worth approximately $1.38 million, giving it a 0.07% stake. Hedge funds and institutional investors collectively own 86.68% of the company.
• Analyst sentiment is mixed, with nine Buy, six Hold, and five Sell ratings; the stock has an overall consensus rating of Hold and an average price target of $25.06.
• Sarepta reported quarterly EPS of $0.64, exceeding the $0.22 consensus estimate, while revenue reached $401.25 million but declined 34.3% year over year. Shares opened at $20.86, near the consensus target.

Freestone Grove Partners LP acquired a new stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 76,629 shares of the biotechnology company's stock, valued at approximately $1,377,000. Freestone Grove Partners LP owned about 0.07% of Sarepta Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in shares of Sarepta Therapeutics during the fourth quarter worth $25,000. iSAM Funds UK Ltd purchased a new stake in Sarepta Therapeutics in the 3rd quarter worth $25,000. Ancora Advisors LLC lifted its stake in Sarepta Therapeutics by 200.0% in the 3rd quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Sarepta Therapeutics during the 2nd quarter valued at about $27,000. Finally, Allworth Financial LP grew its position in shares of Sarepta Therapeutics by 2,098.8% during the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company's stock valued at $35,000 after purchasing an additional 1,721 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SRPT. Weiss Ratings downgraded Sarepta Therapeutics from a "sell (d)" rating to a "sell (e+)" rating in a research report on Wednesday, August 19th. Wall Street Zen cut Sarepta Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Wolfe Research raised Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective on the stock in a research note on Thursday, July 9th. HC Wainwright reaffirmed a "buy" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Finally, Piper Sandler lowered their target price on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $25.06.

Sarepta Therapeutics Stock Down 3.4%

Shares of SRPT opened at $20.86 on Friday. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $17.73 and a 200 day moving average of $18.32. The company has a market cap of $2.20 billion, a PE ratio of -7.19, a P/E/G ratio of 0.31 and a beta of 0.23. Sarepta Therapeutics, Inc. has a 52-week low of $14.68 and a 52-week high of $25.32.

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

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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