Connective Portfolio Management LLC Purchases New Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Connective Portfolio Management LLC acquired a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,000 shares of the biotechnology company's stock, valued at approximately $1,624,000. Sarepta Therapeutics makes up 1.8% of Connective Portfolio Management LLC's portfolio, making the stock its 11th largest position.

A number of other institutional investors have also recently bought and sold shares of the business. Farallon Capital Management LLC grew its holdings in shares of Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company's stock valued at $317,630,000 after acquiring an additional 1,243,427 shares in the last quarter. Principal Financial Group Inc. boosted its position in Sarepta Therapeutics by 693.7% during the second quarter. Principal Financial Group Inc. now owns 363,011 shares of the biotechnology company's stock valued at $57,356,000 after purchasing an additional 317,277 shares during the last quarter. Vanguard Group Inc. grew its stake in Sarepta Therapeutics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company's stock valued at $850,139,000 after purchasing an additional 243,180 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Sarepta Therapeutics by 2,257.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 240,500 shares of the biotechnology company's stock worth $31,135,000 after purchasing an additional 230,300 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Sarepta Therapeutics by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company's stock worth $398,025,000 after purchasing an additional 217,810 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Sarepta Therapeutics 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 transaction 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 filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Michael Andrew Chambers bought 37,038 shares of the company's stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ian Michael Estepan sold 5,985 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $4,662,822.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company's stock.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT traded down $1.73 during trading hours on Wednesday, hitting $117.99. 1,099,447 shares of the company traded hands, compared to its average volume of 1,272,342. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 1,072.64 and a beta of 0.82. The firm has a 50-day moving average of $131.02 and a 200 day moving average of $132.55. Sarepta Therapeutics, Inc. has a twelve month low of $55.25 and a twelve month high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The business had revenue of $362.90 million during the quarter, compared to analysts' expectations of $394.38 million. During the same quarter last year, the company earned ($0.27) earnings per share. The firm's revenue was up 38.9% on a year-over-year basis. On average, analysts forecast that Sarepta Therapeutics, Inc. will post 1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SRPT. Needham & Company LLC reissued a "buy" rating and issued a $235.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, June 27th. Leerink Partners increased their price target on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an "outperform" rating in a research note on Monday, June 24th. Morgan Stanley restated an "overweight" rating and set a $165.00 price target on shares of Sarepta Therapeutics in a report on Friday, June 21st. Royal Bank of Canada upped their price objective on shares of Sarepta Therapeutics from $181.00 to $182.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Finally, Evercore ISI upgraded Sarepta Therapeutics from an "in-line" rating to an "outperform" rating and cut their target price for the company from $185.00 to $179.00 in a report on Thursday, August 8th. Two 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 company's stock. According to MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $187.44.

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.