Vanguard Group Inc. Reduces Stake in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Vanguard Group Inc. reduced its stake in Sarepta Therapeutics by 0.6%, now owning 9,032,613 shares worth approximately $576.46 million.
• Institutional investors and hedge funds collectively own 86.68% of Sarepta Therapeutics' stock, indicating strong interest from large investors.
• Sarepta Therapeutics reported a 68.4% increase in year-over-year revenue, with a recent earnings per share (EPS) of $2.02, significantly beating estimates.

Vanguard Group Inc. lowered its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,032,613 shares of the biotechnology company's stock after selling 52,843 shares during the quarter. Vanguard Group Inc. owned about 9.19% of Sarepta Therapeutics worth $576,461,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SRPT. Byrne Asset Management LLC purchased a new position in shares of Sarepta Therapeutics in the first quarter worth about $30,000. Center for Financial Planning Inc. purchased a new position in shares of Sarepta Therapeutics during the 1st quarter valued at $31,000. UMB Bank n.a. grew 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 buying an additional 276 shares in the last quarter. Logan Capital Management Inc. purchased a new position in shares of Sarepta Therapeutics in the 4th quarter worth about $61,000. Finally, Hurley Capital LLC boosted its stake in shares of Sarepta Therapeutics by 139.2% in the 1st quarter. Hurley Capital LLC now owns 1,435 shares of the biotechnology company's stock valued at $92,000 after purchasing an additional 835 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SRPT shares. BMO Capital Markets increased their price objective on Sarepta Therapeutics from $25.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Leerink Partners reissued a "market perform" rating on shares of Sarepta Therapeutics in a research report on Monday, July 21st. Leerink Partnrs cut shares of Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, July 18th. HC Wainwright reiterated a "sell" rating on shares of Sarepta Therapeutics in a research note on Tuesday, July 29th. Finally, Robert W. Baird upped their price objective on Sarepta Therapeutics from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $43.63.

Sarepta Therapeutics Stock Performance

SRPT traded down $0.40 on Monday, reaching $21.41. The stock had a trading volume of 2,638,059 shares, compared to its average volume of 6,113,776. Sarepta Therapeutics, Inc. has a 12-month low of $10.41 and a 12-month high of $144.22. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84. The business's 50-day moving average price is $19.75 and its two-hundred day moving average price is $53.11. The company has a market cap of $2.09 billion, a P/E ratio of -24.79 and a beta of 0.46.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $1.13. The business 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 company's quarterly revenue was up 68.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current 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.