Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) by 363.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 405,332 shares of the biotechnology company’s stock after buying an additional 317,840 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Sarepta Therapeutics were worth $30,530,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Evolution Wealth Advisors LLC acquired a new position in shares of Sarepta Therapeutics during the second quarter worth approximately $25,000. Trust Co. of Vermont boosted its position in shares of Sarepta Therapeutics by 2,125.0% during the second quarter. Trust Co. of Vermont now owns 178 shares of the biotechnology company’s stock worth $27,000 after buying an additional 170 shares during the period. Quad Cities Investment Group LLC boosted its position in shares of Sarepta Therapeutics by 100.0% during the third quarter. Quad Cities Investment Group LLC now owns 400 shares of the biotechnology company’s stock worth $30,000 after buying an additional 200 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of Sarepta Therapeutics during the second quarter worth approximately $32,000. Finally, Nvwm LLC acquired a new position in shares of Sarepta Therapeutics during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 94.60% of the company’s stock.
In other news, Director Richard Barry bought 1,300 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $122.50 per share, with a total value of $159,250.00. Following the purchase, the director now directly owns 3,173,365 shares in the company, valued at $388,737,212.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas S. Ingram bought 16,252 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $123.07 per share, for a total transaction of $2,000,133.64. Following the completion of the purchase, the chief executive officer now owns 424,405 shares in the company, valued at $52,231,523.35. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 35,752 shares of company stock worth $3,940,114. Company insiders own 6.60% of the company’s stock.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.35) by ($0.35). Sarepta Therapeutics had a negative net margin of 165.52% and a negative return on equity of 55.37%. The firm had revenue of $99.04 million for the quarter, compared to analyst estimates of $98.49 million. During the same period last year, the firm earned ($1.15) earnings per share. Sarepta Therapeutics’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts anticipate that Sarepta Therapeutics Inc will post -4.94 earnings per share for the current year.
SRPT has been the subject of a number of research analyst reports. BidaskClub upgraded Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday. HC Wainwright set a $160.00 target price on Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada set a $204.00 target price on Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Bank of America cut their target price on Sarepta Therapeutics from $200.00 to $189.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Finally, Morgan Stanley cut their target price on Sarepta Therapeutics from $220.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Sarepta Therapeutics presently has a consensus rating of “Buy” and an average price target of $187.78.
Sarepta Therapeutics Profile
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.
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