Fred Alger Management LLC Trims Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Fred Alger Management LLC lessened its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,112 shares of the biotechnology company's stock after selling 17,767 shares during the period. Fred Alger Management LLC owned 0.28% of Sarepta Therapeutics worth $32,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Sarepta Therapeutics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company's stock worth $1,104,701,000 after purchasing an additional 117,904 shares during the period. Capital International Investors lifted its stake in Sarepta Therapeutics by 38.9% during the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company's stock valued at $1,057,482,000 after acquiring an additional 2,437,855 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Sarepta Therapeutics by 0.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,956,583 shares of the biotechnology company's stock valued at $237,901,000 after acquiring an additional 10,343 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,706,353 shares of the biotechnology company's stock worth $207,538,000 after acquiring an additional 9,999 shares during the period. Finally, Norges Bank acquired a new stake in shares of Sarepta Therapeutics in the fourth quarter worth $126,315,000. Hedge funds and other institutional investors own 86.68% of the company's stock.

Analyst Ratings Changes

SRPT has been the topic of several analyst reports. Evercore ISI downgraded Sarepta Therapeutics from an "outperform" rating to an "inline" rating and set a $50.00 price target on the stock. in a research report on Thursday. Guggenheim dropped their target price on Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Piper Sandler decreased their price target on Sarepta Therapeutics from $110.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Scotiabank lowered their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating for the company in a report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $131.22.

Sarepta Therapeutics Price Performance

SRPT traded up $0.10 during trading on Monday, reaching $36.37. The company's stock had a trading volume of 8,354,950 shares, compared to its average volume of 1,648,036. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm has a fifty day simple moving average of $66.84 and a two-hundred day simple moving average of $100.44. Sarepta Therapeutics, Inc. has a 1 year low of $35.46 and a 1 year high of $173.25. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 29.10 and a beta of 0.85.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The business had revenue of $744.86 million during the quarter, compared to analysts' expectations of $685.75 million. During the same period last year, the business earned $0.73 earnings per share. The company's revenue for the quarter was up 80.2% compared to the same quarter last year. As a group, analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Insiders Place Their Bets

In other news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the sale, the director now owns 27,812 shares of the company's stock, valued at approximately $2,771,187.68. The trade was a 8.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.70% of the company's stock.

Sarepta Therapeutics Company 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.