Northern Trust Corp Reduces Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Northern Trust Corp has reduced its holdings in Sarepta Therapeutics by 4.2% during the 1st quarter, owning 769,817 shares valued at approximately $49.1 million after selling 33,694 shares.
• Other institutional investors have increased their stakes in Sarepta, notably Farallon Capital Management, which grew its position by 11.1%, now holding 2,865,100 shares worth $348.4 million.
• Sarepta Therapeutics recently reported a quarterly EPS of $2.02, exceeding analyst expectations, with a revenue increase of 68.4% year-over-year, reaching $611.09 million.

Northern Trust Corp lessened its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 769,817 shares of the biotechnology company's stock after selling 33,694 shares during the period. Northern Trust Corp owned 0.78% of Sarepta Therapeutics worth $49,130,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Farallon Capital Management LLC grew its stake in Sarepta Therapeutics by 11.1% during the 4th quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company's stock valued at $348,368,000 after acquiring an additional 285,100 shares in the last quarter. Alkeon Capital Management LLC grew its stake in Sarepta Therapeutics by 34.7% during the 4th quarter. Alkeon Capital Management LLC now owns 853,845 shares of the biotechnology company's stock valued at $103,819,000 after acquiring an additional 220,000 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Sarepta Therapeutics by 438.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company's stock valued at $45,477,000 after acquiring an additional 580,123 shares in the last quarter. Aberdeen Group plc grew its stake in Sarepta Therapeutics by 42.1% during the 1st quarter. Aberdeen Group plc now owns 650,279 shares of the biotechnology company's stock valued at $41,676,000 after acquiring an additional 192,584 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Sarepta Therapeutics by 3.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 646,291 shares of the biotechnology company's stock valued at $41,246,000 after acquiring an additional 22,542 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock opened at $18.07 on Thursday. The firm's 50 day moving average price is $17.81 and its 200-day moving average price is $48.74. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. Sarepta Therapeutics, Inc. has a one year low of $10.41 and a one year high of $140.97. The firm has a market cap of $1.77 billion, a P/E ratio of -20.77 and a beta of 0.46.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 EPS for the quarter, topping the consensus estimate of $0.89 by $1.13. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The firm had revenue of $611.09 million for the quarter, compared to analyst estimates of $530.66 million. During the same period in the prior year, the business posted $0.07 EPS. The business's revenue for the quarter was up 68.4% compared to the same quarter last year. As a group, equities research analysts predict that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SRPT. Mizuho reaffirmed a "neutral" rating and set a $14.00 price objective (down previously from $40.00) on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Royal Bank Of Canada dropped their price target on shares of Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating for the company in a research note on Thursday, July 17th. Morgan Stanley increased their price target on shares of Sarepta Therapeutics from $15.00 to $20.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Piper Sandler increased their price target on shares of Sarepta Therapeutics to $15.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of Sarepta Therapeutics from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of "Hold" and an average target price of $43.50.

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.

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