Vestal Point Capital LP Has $12.76 Million Stock Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Vestal Point Capital LP has reduced its stake in Sarepta Therapeutics by 20%, selling 50,000 shares and retaining approximately 200,000 shares, valued at around $12.76 million.
• Sarepta Therapeutics recently reported a 68.4% increase in quarterly revenue, totaling $611.09 million, significantly exceeding analyst estimates.
• Analysts have mixed ratings on Sarepta's stock, with target prices ranging from $12.00 to $80.00, reflecting varied outlooks on its future performance.

Vestal Point Capital LP lessened its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 20.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,000 shares of the biotechnology company's stock after selling 50,000 shares during the quarter. Vestal Point Capital LP owned 0.20% of Sarepta Therapeutics worth $12,764,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Byrne Asset Management LLC acquired a new position in Sarepta Therapeutics in the 1st quarter worth $30,000. Center for Financial Planning Inc. bought a new stake in Sarepta Therapeutics in the 1st quarter valued at approximately $31,000. Pandora Wealth Inc. acquired a new position in Sarepta Therapeutics during the 1st quarter worth approximately $45,000. Brooklyn Investment Group raised its holdings in shares of Sarepta Therapeutics by 450.4% in the first quarter. Brooklyn Investment Group now owns 721 shares of the biotechnology company's stock valued at $46,000 after purchasing an additional 590 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Sarepta Therapeutics by 53.0% in the first quarter. UMB Bank n.a. now owns 797 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 276 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SRPT. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Sarepta Therapeutics to $12.00 and gave the stock a "sell" rating in a research report on Friday, August 15th. Oppenheimer upgraded Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and raised their price target for the company from $30.00 to $37.00 in a research note on Tuesday, July 29th. Bank of America increased their price objective on Sarepta Therapeutics to $17.00 and gave the company an "underperform" rating in a report on Wednesday, August 20th. TD Cowen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price target on the stock. in a research report on Wednesday, June 18th. Finally, Piper Sandler lifted their price objective on shares of Sarepta Therapeutics to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $43.50.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT traded up $0.25 during trading on Friday, reaching $18.71. The company's stock had a trading volume of 5,173,257 shares, compared to its average volume of 8,848,577. The firm has a 50 day moving average price of $17.78 and a 200 day moving average price of $44.36. Sarepta Therapeutics, Inc. has a 12 month low of $10.41 and a 12 month high of $138.81. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -21.51 and a beta of 0.49. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84.

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