PDT Partners LLC Acquires 38,033 Shares of Sarepta Therapeutics, Inc. $SRPT

Key Points

• PDT Partners LLC significantly increased its ownership of Sarepta Therapeutics, raising its stake by 241.5% to own approximately 53,781 shares worth $3.43 million.
• Several hedge funds have also boosted their positions in Sarepta, with Assenagon Asset Management increasing its stake by 438.0% and Wellington Management raising theirs by 27.9%.
• Sarepta Therapeutics recently reported earnings per share of $2.02, exceeding analysts' expectations and showing a year-over-year revenue growth of 68.4%.

PDT Partners LLC boosted its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 241.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,781 shares of the biotechnology company's stock after purchasing an additional 38,033 shares during the period. PDT Partners LLC owned about 0.05% of Sarepta Therapeutics worth $3,432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vident Advisory LLC increased its holdings in Sarepta Therapeutics by 27.8% during the 1st quarter. Vident Advisory LLC now owns 3,748 shares of the biotechnology company's stock valued at $239,000 after purchasing an additional 815 shares during the period. Trexquant Investment LP bought a new stake in Sarepta Therapeutics during the 1st quarter valued at approximately $11,997,000. FORA Capital LLC bought a new stake in Sarepta Therapeutics during the 1st quarter valued at approximately $386,000. University of Wisconsin Foundation bought a new stake in Sarepta Therapeutics during the 1st quarter valued at approximately $1,769,000. Finally, Jump Financial LLC boosted its position in Sarepta Therapeutics by 218.2% during the 1st quarter. Jump Financial LLC now owns 5,785 shares of the biotechnology company's stock valued at $369,000 after acquiring an additional 3,967 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on SRPT shares. Royal Bank Of Canada cut their price objective on Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 17th. The Goldman Sachs Group lifted their price objective on Sarepta Therapeutics to $19.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Bank of America lifted their price objective on Sarepta Therapeutics to $17.00 and gave the company an "underperform" rating in a research report on Wednesday, August 20th. Oppenheimer raised Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $30.00 to $37.00 in a research report on Tuesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Sarepta Therapeutics to $12.00 and gave the stock a "sell" rating in a research report on Friday, August 15th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $43.50.

Sarepta Therapeutics Stock Up 1.4%

Shares of SRPT traded up $0.25 during mid-day trading on Friday, reaching $18.71. The company had a trading volume of 5,173,257 shares, compared to its average volume of 8,586,767. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. The firm has a 50-day moving average price of $17.78 and a 200 day moving average price of $43.48. Sarepta Therapeutics, Inc. has a 52 week low of $10.41 and a 52 week high of $138.81. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -21.51 and a beta of 0.49.

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