Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Stake Lessened by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its stake in Sarepta Therapeutics by 23.2%, now owning 292,130 shares worth approximately $18.6 million.
• Shares of Sarepta Therapeutics experienced a significant drop, with a current price of $16.42, compared to a 12-month high of $145.00.
• Analysts have issued mostly hold ratings for Sarepta, with a consensus target price of $49.12 despite recent negative earnings reports.

Federated Hermes Inc. cut its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 23.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,130 shares of the biotechnology company's stock after selling 88,288 shares during the period. Federated Hermes Inc. owned approximately 0.30% of Sarepta Therapeutics worth $18,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SRPT. Byrne Asset Management LLC bought a new stake in Sarepta Therapeutics during the first quarter worth approximately $30,000. Center for Financial Planning Inc. acquired a new position in Sarepta Therapeutics in the 1st quarter worth approximately $31,000. Logan Capital Management Inc. acquired a new position in Sarepta Therapeutics in the 4th quarter worth approximately $61,000. Hurley Capital LLC acquired a new position in Sarepta Therapeutics in the 4th quarter worth approximately $76,000. Finally, UMB Bank n.a. boosted its stake in Sarepta Therapeutics by 53.0% in 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 period. 86.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SRPT shares. The Goldman Sachs Group lowered shares of Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating and set a $29.00 price objective for the company. in a research note on Tuesday, June 17th. Wolfe Research started coverage on shares of Sarepta Therapeutics in a research report on Tuesday, June 17th. They issued a "peer perform" rating for the company. Leerink Partners reiterated a "market perform" rating on shares of Sarepta Therapeutics in a research report on Monday, July 21st. Jefferies Financial Group cut their target price on shares of Sarepta Therapeutics from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Finally, Mizuho reiterated a "neutral" rating and issued a $14.00 target price (down previously from $40.00) on shares of Sarepta Therapeutics in a research report on Monday, July 21st. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $49.12.

Sarepta Therapeutics Trading Down 2.0%

Shares of SRPT stock opened at $16.42 on Friday. Sarepta Therapeutics, Inc. has a 12-month low of $10.41 and a 12-month high of $145.00. The company has a market capitalization of $1.61 billion, a P/E ratio of -6.10 and a beta of 0.45. The firm has a 50-day moving average price of $24.24 and a 200 day moving average price of $61.50. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($5.62). Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The firm had revenue of $744.86 million for the quarter, compared to the consensus estimate of $685.75 million. During the same period in the prior year, the business earned $0.73 earnings per share. The company's revenue for the quarter was up 80.2% on a year-over-year basis. Research analysts forecast that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal year.

Sarepta Therapeutics 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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