AlphaCentric Advisors LLC Purchases 10,500 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

AlphaCentric Advisors LLC grew its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 140.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,000 shares of the biotechnology company’s stock after acquiring an additional 10,500 shares during the period. Sarepta Therapeutics accounts for approximately 1.7% of AlphaCentric Advisors LLC’s investment portfolio, making the stock its 12th biggest position. AlphaCentric Advisors LLC’s holdings in Sarepta Therapeutics were worth $2,248,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SRPT. Riggs Asset Managment Co. Inc. raised its position in Sarepta Therapeutics by 33.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 75 shares during the last quarter. EP Wealth Advisors LLC raised its position in Sarepta Therapeutics by 2.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock worth $774,000 after purchasing an additional 103 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Sarepta Therapeutics by 1.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock worth $1,000,000 after purchasing an additional 120 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Sarepta Therapeutics by 16.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,070 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 155 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Sarepta Therapeutics during the 2nd quarter worth $31,000. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Price Performance

Shares of SRPT opened at $123.07 on Tuesday. The company has a market capitalization of $11.74 billion, a P/E ratio of 273.49 and a beta of 0.81. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $127.42 and a 200 day moving average of $132.77. Sarepta Therapeutics, Inc. has a twelve month low of $75.85 and a twelve month high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $362.90 million during the quarter, compared to the consensus estimate of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.27) earnings per share. As a group, equities research analysts anticipate that Sarepta Therapeutics, Inc. will post 1.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SRPT. Citigroup decreased their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $152.00 price target on shares of Sarepta Therapeutics in a report on Friday, September 20th. Piper Sandler decreased their price target on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Barclays decreased their price target on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, UBS Group increased their price target on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $182.95.

Insider Buying and Selling

In related news, Director Michael Andrew Chambers bought 37,038 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the acquisition, the director now owns 284,034 shares of the company’s stock, valued at $38,003,749.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Sarepta Therapeutics news, Director Michael Andrew Chambers purchased 37,038 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the purchase, the director now directly owns 284,034 shares of the company’s stock, valued at $38,003,749.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares in the company, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by corporate insiders.

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.