Gladstone Institutional Advisory LLC Buys 26,900 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Gladstone Institutional Advisory LLC raised its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 47.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,300 shares of the biotechnology company’s stock after buying an additional 26,900 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Sarepta Therapeutics were worth $10,403,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. US Bancorp DE increased its stake in Sarepta Therapeutics by 4.3% in the 3rd quarter. US Bancorp DE now owns 6,549 shares of the biotechnology company’s stock worth $818,000 after acquiring an additional 271 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Sarepta Therapeutics by 83.5% in the third quarter. Pinnacle Associates Ltd. now owns 91,951 shares of the biotechnology company’s stock worth $11,484,000 after purchasing an additional 41,836 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Sarepta Therapeutics by 26.4% in the third quarter. First Trust Direct Indexing L.P. now owns 1,635 shares of the biotechnology company’s stock valued at $204,000 after purchasing an additional 341 shares in the last quarter. New York State Teachers Retirement System raised its stake in Sarepta Therapeutics by 2.5% in the third quarter. New York State Teachers Retirement System now owns 78,175 shares of the biotechnology company’s stock valued at $9,763,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Highview Capital Management LLC DE bought a new stake in Sarepta Therapeutics during the third quarter valued at approximately $246,000. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Trading Down 1.1 %

Shares of SRPT stock traded down $1.34 during mid-day trading on Friday, reaching $124.66. The stock had a trading volume of 217,412 shares, compared to its average volume of 1,225,583. The firm has a market capitalization of $11.89 billion, a PE ratio of 280.01 and a beta of 0.82. The stock’s 50-day moving average price is $128.07 and its two-hundred day moving average price is $132.57. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. Sarepta Therapeutics, Inc. has a 52-week low of $75.69 and a 52-week high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $394.38 million. During the same quarter in the previous year, the business earned ($0.27) EPS. Sarepta Therapeutics’s revenue was up 38.9% compared to the same quarter last year. Equities analysts expect that Sarepta Therapeutics, Inc. will post 1.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group started coverage on Sarepta Therapeutics in a research report on Monday, October 21st. They set a “buy” rating and a $165.00 price target on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $152.00 price target on shares of Sarepta Therapeutics in a research note on Friday, September 20th. Barclays reduced their price objective on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $205.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 14th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.95.

Insider Activity

In related news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Andrew Chambers acquired 37,038 shares of the business’s stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the transaction, the director now owns 284,034 shares in the company, valued at approximately $38,003,749.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.70% of the company’s stock.

Sarepta Therapeutics 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.