Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Short Interest Update

Key Points

• Sarepta Therapeutics experienced a significant increase in short interest, rising by 41.0% to a total of 20,950,000 shares in July, with approximately 23.2% of its shares short sold.
• Institutional investors collectively increased their stakes in Sarepta, with 86.68% of the stock now owned by these entities, indicating robust institutional support.
• The company reported strong earnings with $2.02 EPS in its latest quarterly results, exceeding analysts' expectations of $0.89 EPS, and a revenue of $611.09 million, which is 68.4% higher year-over-year.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 20,950,000 shares, anincreaseof41.0% from the July 15th total of 14,860,000 shares. Approximately23.2% of the shares of the stock are short sold. Based on an average daily volume of 11,330,000 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 11,330,000 shares, the short-interest ratio is presently 1.8 days. Approximately23.2% of the shares of the stock are short sold.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT traded up $0.16 during mid-day trading on Friday, hitting $20.22. 9,517,905 shares of the stock were exchanged, compared to its average volume of 16,045,195. The company has a market cap of $1.98 billion, a P/E ratio of -23.24 and a beta of 0.46. The stock's fifty day simple moving average is $17.99 and its two-hundred day simple moving average is $50.73. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $143.49.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $0.89 by $1.13. The company had revenue of $611.09 million during the quarter, compared to analyst estimates 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 revenue was up 68.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. As a group, analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently modified their holdings of the company. Byrne Asset Management LLC acquired a new stake in shares of Sarepta Therapeutics during the first quarter worth approximately $30,000. Center for Financial Planning Inc. acquired a new stake in shares of Sarepta Therapeutics in the first quarter valued at approximately $31,000. Logan Capital Management Inc. acquired a new stake in shares of Sarepta Therapeutics in the fourth quarter valued at approximately $61,000. Ancora Advisors LLC increased its holdings in shares of Sarepta Therapeutics by 150.0% in the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Finally, Pandora Wealth Inc. acquired a new stake in shares of Sarepta Therapeutics in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 86.68% of the company's stock.

Wall Street Analyst Weigh In

SRPT has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on shares of Sarepta Therapeutics in a research note on Tuesday, July 29th. They set a "market perform" rating and a $13.00 price target for the company. Oppenheimer upgraded shares of Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $30.00 to $37.00 in a research note on Tuesday, July 29th. HC Wainwright restated a "sell" rating on shares of Sarepta Therapeutics in a research note on Tuesday, July 29th. Mizuho restated a "neutral" rating and set a $14.00 price target (down previously from $40.00) on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Finally, Leerink Partners restated a "market perform" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $43.50.

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.