Sarepta Therapeutics (NASDAQ:SRPT) Hits New 12-Month Low – Here’s What Happened

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $62.50 and last traded at $63.82, with a volume of 4633758 shares changing hands. The stock had previously closed at $70.41.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada lowered Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $161.00 to $87.00 in a report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. HC Wainwright upgraded Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 price target on the stock in a research note on Wednesday. Finally, Scotiabank dropped their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.05.

Sarepta Therapeutics Price Performance

The stock has a fifty day simple moving average of $99.40 and a 200-day simple moving average of $114.66. The company has a market capitalization of $6.06 billion, a PE ratio of 49.98 and a beta of 0.79. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the firm’s 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. This trade represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its stake in Sarepta Therapeutics by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company’s stock valued at $75,842,000 after acquiring an additional 12,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Sarepta Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after purchasing an additional 44,306 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Sarepta Therapeutics in the 4th quarter valued at about $3,829,000. Nordea Investment Management AB grew its stake in Sarepta Therapeutics by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company’s stock worth $8,228,000 after buying an additional 10,815 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Sarepta Therapeutics by 16,717.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company’s stock valued at $10,602,000 after acquiring an additional 84,926 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.

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.