Thornburg Investment Management Inc. Lowers Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Key Points

• Thornburg Investment Management Inc. significantly reduced its holdings in Sarepta Therapeutics by 75.7%, selling 29,526 shares and now owning just 9,458 shares worth approximately $604,000.
• Sarepta Therapeutics reported a loss of $3.42 EPS for the quarter, far below analysts' expectations of $2.20 EPS, but its revenue increased by 80.2% year-over-year, reaching $744.86 million.
• Institutional investors own a substantial 86.68% of Sarepta Therapeutics stock, indicating strong institutional interest, while the stock currently has a consensus rating of "Hold" with a target price averaging $49.12.

Thornburg Investment Management Inc. lowered its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 75.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,458 shares of the biotechnology company's stock after selling 29,526 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Sarepta Therapeutics were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. EP Wealth Advisors LLC increased its position in Sarepta Therapeutics by 2.2% during the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company's stock valued at $606,000 after acquiring an additional 105 shares during the last quarter. Virtus ETF Advisers LLC increased its position in Sarepta Therapeutics by 6.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 2,809 shares of the biotechnology company's stock valued at $342,000 after acquiring an additional 174 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in 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. NEOS Investment Management LLC lifted its position in shares of Sarepta Therapeutics by 13.9% during the fourth quarter. NEOS Investment Management LLC now owns 1,943 shares of the biotechnology company's stock worth $236,000 after purchasing an additional 237 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Sarepta Therapeutics by 11.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,429 shares of the biotechnology company's stock worth $307,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Performance

SRPT stock traded up $0.92 during midday trading on Wednesday, reaching $16.75. The stock had a trading volume of 39,100,070 shares, compared to its average volume of 17,924,644. The stock has a market cap of $1.65 billion, a PE ratio of -6.23 and a beta of 0.45. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02. The firm has a fifty day simple moving average of $24.69 and a two-hundred day simple moving average of $62.20. Sarepta Therapeutics, Inc. has a 52-week low of $10.41 and a 52-week high of $145.00.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The firm had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. During the same period last year, the firm earned $0.73 EPS. The company's revenue for the quarter was up 80.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SRPT. Sanford C. Bernstein began coverage on shares of Sarepta Therapeutics in a research note on Tuesday. They set a "market perform" rating and a $13.00 target price for the company. JPMorgan Chase & Co. raised shares of Sarepta Therapeutics from an "underweight" rating to a "neutral" rating and set a $24.00 target price for the company in a research note on Tuesday. Needham & Company LLC reissued an "underperform" rating on shares of Sarepta Therapeutics in a research note on Monday. Baird R W lowered shares of Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Guggenheim lowered their target price on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Six analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Sarepta Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $49.12.

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.