Seven Eight Capital LP Buys 16,405 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Seven Eight Capital LP raised its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 198.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,684 shares of the biotechnology company’s stock after buying an additional 16,405 shares during the period. Seven Eight Capital LP’s holdings in Sarepta Therapeutics were worth $3,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in shares of Sarepta Therapeutics by 120.6% in the first quarter. Nordea Investment Management AB now owns 61,657 shares of the biotechnology company’s stock valued at $8,004,000 after acquiring an additional 33,711 shares during the period. Capital Fund Management S.A. purchased a new position in Sarepta Therapeutics during the 4th quarter valued at $7,299,000. ADAR1 Capital Management LLC bought a new stake in shares of Sarepta Therapeutics during the 4th quarter valued at $777,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Sarepta Therapeutics during the 2nd quarter valued at $607,000. Finally, Principal Financial Group Inc. boosted its stake in Sarepta Therapeutics by 125.3% in the 4th quarter. Principal Financial Group Inc. now owns 49,539 shares of the biotechnology company’s stock worth $4,777,000 after purchasing an additional 27,549 shares in the last quarter. 86.68% of the stock is owned by institutional investors.

Sarepta Therapeutics Trading Up 1.1 %

SRPT opened at $125.69 on Wednesday. Sarepta Therapeutics, Inc. has a one year low of $55.25 and a one year high of $173.25. The company has a market cap of $11.88 billion, a P/E ratio of 1,142.64 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90. The business’s 50-day simple moving average is $139.24 and its 200-day simple moving average is $132.69.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The company had revenue of $362.90 million during the quarter, compared to analysts’ expectations of $394.38 million. During the same period last year, the firm earned ($0.27) EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, equities research analysts expect that Sarepta Therapeutics, Inc. will post 1.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI upgraded shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and lowered their target price for the company from $185.00 to $179.00 in a research note on Thursday, August 8th. Cantor Fitzgerald reduced their target price on shares of Sarepta Therapeutics from $167.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Bank of America upped their price target on Sarepta Therapeutics from $166.00 to $213.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Finally, UBS Group increased their target price on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $187.39.

Insider Buying and Selling

In related news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the transaction, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at $4,662,822.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the transaction, the insider now owns 21,261 shares in the company, valued at $3,467,243.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ian Michael Estepan sold 5,985 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.36, for a total value 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. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,801 shares of company stock valued at $8,399,586. 7.70% of the stock is owned by insiders.

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.