Thornburg Investment Management Inc. Sells 4,074 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Thornburg Investment Management Inc. lessened its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 10.1% in the first quarter, HoldingsChannel.com reports. The fund owned 36,271 shares of the biotechnology company’s stock after selling 4,074 shares during the period. Thornburg Investment Management Inc.’s holdings in Sarepta Therapeutics were worth $4,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Sarepta Therapeutics by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company’s stock worth $850,139,000 after purchasing an additional 243,180 shares during the period. Capital International Investors boosted its stake in shares of Sarepta Therapeutics by 160.0% during the 4th quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after acquiring an additional 2,917,797 shares during the period. Avoro Capital Advisors LLC increased its holdings in shares of Sarepta Therapeutics by 7.9% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after acquiring an additional 319,444 shares during the last quarter. Wellington Management Group LLP raised its stake in Sarepta Therapeutics by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock valued at $398,025,000 after acquiring an additional 217,810 shares during the period. Finally, Norges Bank acquired a new stake in Sarepta Therapeutics during the 4th quarter valued at $80,697,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Dallan Murray sold 3,635 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $140.00, for a total transaction of $508,900.00. Following the completion of the sale, the insider now directly owns 18,125 shares in the company, valued at approximately $2,537,500. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Bilal Arif sold 7,859 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the transaction, the insider now directly owns 21,261 shares in the company, valued at $3,467,243.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dallan Murray sold 3,635 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $140.00, for a total value of $508,900.00. Following the sale, the insider now directly owns 18,125 shares in the company, valued at approximately $2,537,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,451 shares of company stock worth $8,086,386. Insiders own 7.70% of the company’s stock.

Sarepta Therapeutics Price Performance

SRPT stock traded down $1.64 during mid-day trading on Wednesday, hitting $146.00. The stock had a trading volume of 827,266 shares, compared to its average volume of 1,386,483. The firm has a fifty day simple moving average of $137.19 and a 200 day simple moving average of $129.42. Sarepta Therapeutics, Inc. has a 52 week low of $55.25 and a 52 week high of $173.25. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $13.80 billion, a P/E ratio of 1,327.27 and a beta of 0.89.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.84. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. The business had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $375.52 million. During the same period last year, the firm posted ($1.44) earnings per share. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. As a group, research analysts forecast that Sarepta Therapeutics, Inc. will post 3.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SRPT shares. BMO Capital Markets increased their price objective on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Robert W. Baird increased their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Piper Sandler restated an “overweight” rating and set a $205.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, July 1st. Royal Bank of Canada upped their target price on Sarepta Therapeutics from $142.00 to $182.00 and gave the company a “sector perform” rating in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. dropped their price target on Sarepta Therapeutics from $177.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $187.72.

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.