PDT Partners LLC Raises Stake in 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 lifted its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 241.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,781 shares of the biotechnology company's stock after buying an additional 38,033 shares during the period. PDT Partners LLC owned approximately 0.05% of Sarepta Therapeutics worth $3,432,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Byrne Asset Management LLC purchased a new position in shares of Sarepta Therapeutics in the 1st quarter valued at $30,000. Center for Financial Planning Inc. purchased a new position in shares of Sarepta Therapeutics in the 1st quarter valued at $31,000. Pandora Wealth Inc. purchased a new position in shares of Sarepta Therapeutics in the 1st quarter valued at $45,000. Brooklyn Investment Group grew its position in shares of Sarepta Therapeutics by 450.4% in the 1st quarter. Brooklyn Investment Group now owns 721 shares of the biotechnology company's stock valued at $46,000 after buying an additional 590 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Sarepta Therapeutics by 53.0% during the 1st quarter. UMB Bank n.a. now owns 797 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 276 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SRPT shares. The Goldman Sachs Group raised their price objective on shares of Sarepta Therapeutics to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. BMO Capital Markets raised their price objective on shares of Sarepta Therapeutics from $25.00 to $50.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. UBS Group reissued a "neutral" rating on shares of Sarepta Therapeutics in a research report on Monday, July 21st. Wall Street Zen raised shares of Sarepta Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Oppenheimer raised shares of Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $30.00 to $37.00 in a research report on Tuesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $43.50.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT traded up $0.25 during midday trading on Friday, hitting $18.71. The company had a trading volume of 5,173,257 shares, compared to its average volume of 8,848,577. The company has a quick ratio of 1.81, a current ratio of 2.89 and a debt-to-equity ratio of 0.84. Sarepta Therapeutics, Inc. has a twelve month low of $10.41 and a twelve month high of $138.81. The business has a 50-day simple moving average of $17.78 and a two-hundred day simple moving average of $44.36. The firm 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 announced its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 EPS for the quarter, beating the consensus estimate of $0.89 by $1.13. The firm had revenue of $611.09 million during the quarter, compared to analysts' expectations of $530.66 million. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The business's revenue for the quarter was up 68.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share. Equities research analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

About Sarepta Therapeutics

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.