AlphaCentric Advisors LLC Has $2.25 Million Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

AlphaCentric Advisors LLC raised its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 140.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,000 shares of the biotechnology company's stock after purchasing an additional 10,500 shares during the quarter. Sarepta Therapeutics accounts for about 1.7% of AlphaCentric Advisors LLC's investment portfolio, making the stock its 12th biggest holding. AlphaCentric Advisors LLC's holdings in Sarepta Therapeutics were worth $2,248,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter worth $31,000. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Sarepta Therapeutics by 125.0% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 125 shares during the period. New Covenant Trust Company N.A. bought a new stake in shares of Sarepta Therapeutics in the 1st quarter worth about $32,000. Nkcfo LLC bought a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $43,000. Finally, UMB Bank n.a. boosted its position in Sarepta Therapeutics by 105.9% in the 3rd quarter. UMB Bank n.a. now owns 383 shares of the biotechnology company's stock valued at $48,000 after buying an additional 197 shares during the period. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on SRPT. Raymond James reiterated an "outperform" rating and set a $150.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Piper Sandler decreased their target price on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Evercore ISI raised Sarepta Therapeutics from an "in-line" rating to an "outperform" rating and dropped their price objective for the company from $185.00 to $179.00 in a report on Thursday, August 8th. William Blair upgraded Sarepta Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. Finally, Citigroup cut their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, eighteen have issued 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 $182.95.

Sarepta Therapeutics Stock Up 1.6 %

Shares of SRPT traded up $1.94 during midday trading on Tuesday, hitting $125.01. The company had a trading volume of 675,391 shares, compared to its average volume of 1,226,223. The stock has a market cap of $11.92 billion, a price-to-earnings ratio of 271.12 and a beta of 0.81. The company's 50 day moving average price is $127.07 and its 200 day moving average price is $132.82. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. Sarepta Therapeutics, Inc. has a 52 week low of $75.85 and a 52 week high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. Sarepta Therapeutics's quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.27) earnings per share. On average, equities research analysts predict that Sarepta Therapeutics, Inc. will post 1.48 EPS for the current year.

Insider Buying and Selling

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