Pictet Asset Management Holding SA Cuts Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Pictet Asset Management Holding SA lessened its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,046,025 shares of the biotechnology company's stock after selling 4,986 shares during the period. Pictet Asset Management Holding SA owned about 1.10% of Sarepta Therapeutics worth $127,186,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in Sarepta Therapeutics during the 4th quarter worth approximately $126,315,000. Wellington Management Group LLP lifted its stake in Sarepta Therapeutics by 32.3% in the third quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company's stock valued at $340,527,000 after buying an additional 665,087 shares during the period. Erste Asset Management GmbH bought a new position in Sarepta Therapeutics during the third quarter worth about $79,425,000. Janus Henderson Group PLC increased its stake in shares of Sarepta Therapeutics by 14.2% in the 3rd quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company's stock valued at $544,408,000 after acquiring an additional 543,143 shares during the last quarter. Finally, Soros Fund Management LLC acquired a new stake in shares of Sarepta Therapeutics in the 3rd quarter valued at approximately $25,800,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.70% of the stock is owned by company insiders.

Remove Ads

Analysts Set New Price Targets

SRPT has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $202.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Royal Bank of Canada lowered Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $161.00 to $87.00 in a report on Monday. HC Wainwright restated a "sell" rating and issued a $75.00 price target on shares of Sarepta Therapeutics in a report on Wednesday, March 19th. Scotiabank decreased their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, March 20th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $163.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $164.05.

Sarepta Therapeutics Stock Performance

SRPT traded down $6.59 during midday trading on Monday, hitting $63.82. 4,633,758 shares of the company were exchanged, compared to its average volume of 1,270,113. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics, Inc. has a 1-year low of $62.53 and a 1-year high of $173.25. The company's 50 day simple moving average is $102.66 and its 200 day simple moving average is $115.90. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 51.06 and a beta of 0.79.

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.