Victory Capital Management Inc. Cuts Stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Key Points

• Victory Capital Management Inc. has reduced its stake in Sarepta Therapeutics by 23.8%, selling 21,096 shares and now owning 67,712 shares worth approximately $4.32 million.
• Sarepta Therapeutics reported a significant loss of $3.42 EPS for the quarter, failing to meet analysts' expectations despite a revenue increase of 80.2% year-over-year.
• Several institutional investors have altered their positions in Sarepta, with 86.68% of the stock now owned by institutional investors, indicating a strong institutional interest in the company.

Victory Capital Management Inc. decreased its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,712 shares of the biotechnology company's stock after selling 21,096 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Sarepta Therapeutics worth $4,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRPT. Edgestream Partners L.P. acquired a new stake in shares of Sarepta Therapeutics in the 1st quarter valued at approximately $546,000. Louisiana State Employees Retirement System grew its holdings in shares of Sarepta Therapeutics by 1.1% in the 1st quarter. Louisiana State Employees Retirement System now owns 26,800 shares of the biotechnology company's stock valued at $1,710,000 after buying an additional 300 shares during the period. Emerald Advisers LLC increased its position in shares of Sarepta Therapeutics by 49.8% in the 1st quarter. Emerald Advisers LLC now owns 19,830 shares of the biotechnology company's stock valued at $1,266,000 after buying an additional 6,588 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Sarepta Therapeutics by 12.0% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 21,386 shares of the biotechnology company's stock worth $1,365,000 after buying an additional 2,286 shares during the period. Finally, Xponance Inc. lifted its holdings in Sarepta Therapeutics by 3.2% during the first quarter. Xponance Inc. now owns 19,321 shares of the biotechnology company's stock worth $1,233,000 after acquiring an additional 608 shares in the last quarter. Institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Up 5.8%

Sarepta Therapeutics stock traded up $0.92 during trading on Wednesday, hitting $16.75. 39,100,070 shares of the company were exchanged, compared to its average volume of 17,924,644. The company has a current ratio of 4.02, a quick ratio of 2.46 and a debt-to-equity ratio of 1.00. The business's 50 day moving average is $24.69 and its 200 day moving average is $62.20. Sarepta Therapeutics, Inc. has a 52 week low of $10.41 and a 52 week high of $145.00. The company has a market capitalization of $1.65 billion, a P/E ratio of -6.23 and a beta of 0.45.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) 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 during the quarter, compared to analysts' expectations of $685.75 million. During the same quarter in the prior year, the company earned $0.73 EPS. The business's revenue for the quarter was up 80.2% on a year-over-year basis. Analysts predict that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SRPT shares. Citigroup assumed coverage on Sarepta Therapeutics in a research note on Tuesday, July 22nd. They set a "sell" rating for the company. TD Cowen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price objective on the stock. in a report on Wednesday, June 18th. Royal Bank Of Canada reduced their target price on shares of Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating for the company in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Finally, Leerink Partnrs cut Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 18th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.