Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Shares Acquired by Simplify Asset Management Inc.

Simplify Asset Management Inc. raised its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 84.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,010 shares of the biotechnology company’s stock after acquiring an additional 88,474 shares during the quarter. Sarepta Therapeutics makes up 1.1% of Simplify Asset Management Inc.’s portfolio, making the stock its 12th biggest position. Simplify Asset Management Inc. owned 0.20% of Sarepta Therapeutics worth $24,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in Sarepta Therapeutics in the second quarter worth $31,000. New Covenant Trust Company N.A. acquired a new position in shares of Sarepta Therapeutics in the 1st quarter valued at about $32,000. Nkcfo LLC bought a new stake in shares of Sarepta Therapeutics during the 2nd quarter valued at about $43,000. Huntington National Bank raised its stake in Sarepta Therapeutics by 150.9% during the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 175 shares during the period. Finally, Riggs Asset Managment Co. Inc. raised its stake in Sarepta Therapeutics by 33.3% during the second quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 75 shares during the period. 86.68% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction that occurred 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 of the company’s stock, valued at $4,662,822.56. This trade represents a 14.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SRPT. StockNews.com upgraded Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday. UBS Group raised their target price on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Guggenheim upped their price target on shares of Sarepta Therapeutics from $148.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Cantor Fitzgerald upgraded shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $152.00 to $167.00 in a research report on Thursday, November 7th. Finally, Citigroup decreased their target price on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Buy” and a consensus target price of $181.33.

Sarepta Therapeutics Trading Down 3.6 %

NASDAQ SRPT traded down $3.96 during trading hours on Friday, hitting $105.15. The company’s stock had a trading volume of 166,825 shares, compared to its average volume of 1,228,510. The stock has a fifty day moving average of $124.21 and a 200 day moving average of $132.49. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics, Inc. has a twelve month low of $78.67 and a twelve month high of $173.25. The firm has a market capitalization of $10.04 billion, a P/E ratio of 87.29 and a beta of 0.81.

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.