California Public Employees Retirement System Has $17.40 Million Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

California Public Employees Retirement System cut its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,129 shares of the biotechnology company's stock after selling 7,391 shares during the period. California Public Employees Retirement System owned approximately 0.15% of Sarepta Therapeutics worth $17,403,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Manchester Capital Management LLC increased its stake in Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company's stock valued at $29,000 after buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Sarepta Therapeutics by 169.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company's stock valued at $30,000 after acquiring an additional 156 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company's stock worth $35,000 after acquiring an additional 232 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter worth $36,000. Finally, Steward Partners Investment Advisory LLC boosted its position in Sarepta Therapeutics by 164.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 194 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In related news, Director Claude Nicaise sold 2,491 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the transaction, the director now directly owns 27,812 shares of the company's stock, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SRPT. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Royal Bank of Canada lowered shares of Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $161.00 to $87.00 in a research report on Monday, March 31st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Scotiabank cut their price target on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating on the stock in a report on Thursday, March 20th. Finally, HC Wainwright raised shares of Sarepta Therapeutics from a "sell" rating to a "neutral" rating and set a $75.00 target price on the stock in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $163.18.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT traded up $6.35 during mid-day trading on Wednesday, hitting $55.65. The company had a trading volume of 4,269,441 shares, compared to its average volume of 1,363,913. Sarepta Therapeutics, Inc. has a 12 month low of $48.01 and a 12 month high of $173.25. The firm has a market cap of $5.40 billion, a P/E ratio of 44.52 and a beta of 0.93. The business's 50-day simple moving average is $90.64 and its 200-day simple moving average is $111.23. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03.

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.