Sarepta Therapeutics (NASDAQ:SRPT) Hits New 52-Week Low – Here’s Why

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price reached a new 52-week low on Tuesday . The company traded as low as $101.15 and last traded at $104.81, with a volume of 226454 shares trading hands. The stock had previously closed at $107.95.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler cut their price objective on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Evercore ISI cut their price target on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $182.00 price objective on shares of Sarepta Therapeutics in a report on Monday, October 21st. StockNews.com cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, HC Wainwright reissued a “sell” rating and set a $75.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.77.

Sarepta Therapeutics Trading Down 2.4 %

The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 84.28 and a beta of 0.75. The business has a 50 day simple moving average of $118.57 and a 200-day simple moving average of $124.07.

Insider Buying and Selling

In related news, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of Sarepta Therapeutics stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $124.84, for a total value of $1,310,820.00. Following the transaction, the director now owns 22,840 shares in the company, valued at approximately $2,851,345.60. This trade represents a 31.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Jean Boor sold 1,636 shares of Sarepta Therapeutics stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $125.55, for a total value of $205,399.80. Following the completion of the transaction, the director now directly owns 5,880 shares in the company, valued at $738,234. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Large investors have recently modified their holdings of the stock. Simplify Asset Management Inc. lifted its position in Sarepta Therapeutics by 84.6% during the 3rd quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock worth $24,105,000 after acquiring an additional 88,474 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sarepta Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock worth $211,910,000 after purchasing an additional 44,306 shares in the last quarter. Summit Partners Public Asset Management LLC boosted its stake in shares of Sarepta Therapeutics by 547.9% in the third quarter. Summit Partners Public Asset Management LLC now owns 138,118 shares of the biotechnology company’s stock valued at $17,250,000 after purchasing an additional 116,800 shares during the period. Larson Financial Group LLC grew its holdings in Sarepta Therapeutics by 1,649.8% during the 3rd quarter. Larson Financial Group LLC now owns 8,749 shares of the biotechnology company’s stock valued at $1,093,000 after purchasing an additional 8,249 shares in the last quarter. Finally, abrdn plc increased its stake in Sarepta Therapeutics by 30.7% during the 3rd quarter. abrdn plc now owns 431,098 shares of the biotechnology company’s stock worth $53,935,000 after buying an additional 101,253 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

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.