Squarepoint Ops LLC Has $1.51 Million Stock Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Squarepoint Ops LLC reduced its Sarepta Therapeutics stake by 36.5% in the second quarter, selling 48,276 shares and retaining 84,026 shares valued at approximately $1.51 million.
• Analyst sentiment is mixed: nine analysts rate SRPT a Buy, five Hold, and six Sell, resulting in a consensus “Hold” rating and a $25.69 average price target.
• Sarepta reported quarterly EPS of $0.64, beating estimates of $0.22, while revenue reached $401.25 million but declined 34.3% year over year; the stock opened at $20.72.

Squarepoint Ops LLC cut its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 36.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,026 shares of the biotechnology company's stock after selling 48,276 shares during the quarter. Squarepoint Ops LLC owned about 0.08% of Sarepta Therapeutics worth $1,510,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new stake in shares of Sarepta Therapeutics in the second quarter worth $27,000. Larson Financial Group LLC increased its position in Sarepta Therapeutics by 82.5% during the fourth quarter. Larson Financial Group LLC now owns 1,882 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 851 shares during the period. Nykredit A S acquired a new position in Sarepta Therapeutics during the 2nd quarter valued at $43,000. Ancora Advisors LLC acquired a new position in Sarepta Therapeutics during the 2nd quarter valued at $45,000. Finally, Allworth Financial LP bought a new stake in Sarepta Therapeutics in the 2nd quarter valued at $58,000. 86.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Piper Sandler reduced their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Wolfe Research raised Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 target price on the stock in a research report on Thursday, July 9th. HC Wainwright reissued a "buy" rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Sarepta Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, September 8th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $25.69.

Sarepta Therapeutics Stock Down 1.0%

Shares of SRPT stock opened at $20.72 on Wednesday. Sarepta Therapeutics, Inc. has a one year low of $14.68 and a one year high of $25.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. The stock has a fifty day moving average price of $18.61 and a 200 day moving average price of $18.60. The stock has a market cap of $2.19 billion, a P/E ratio of -7.14, a price-to-earnings-growth ratio of 0.30 and a beta of 0.27.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The firm had revenue of $401.25 million for the quarter, compared to analyst estimates of $366.39 million. During the same quarter in the previous year, the firm posted $2.02 EPS. The business's revenue for the quarter was down 34.3% on a year-over-year basis. Analysts predict that Sarepta Therapeutics, Inc. will post 3.52 earnings per share for the current year.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of genetic disorders.

The company's primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.

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