Braidwell LP Sells 42,777,500 Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Braidwell LP lowered its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 99.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,400 shares of the biotechnology company's stock after selling 42,777,500 shares during the quarter. Sarepta Therapeutics accounts for about 1.3% of Braidwell LP's investment portfolio, making the stock its 29th largest position. Braidwell LP owned approximately 0.39% of Sarepta Therapeutics worth $46,259,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Sarepta Therapeutics by 693.7% during the 2nd quarter. Principal Financial Group Inc. now owns 363,011 shares of the biotechnology company's stock valued at $57,356,000 after buying an additional 317,277 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Sarepta Therapeutics by 146.3% in the second quarter. Rhumbline Advisers now owns 270,941 shares of the biotechnology company's stock valued at $42,809,000 after acquiring an additional 160,942 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Sarepta Therapeutics by 303.7% in the second quarter. Blair William & Co. IL now owns 174,282 shares of the biotechnology company's stock worth $27,537,000 after acquiring an additional 131,112 shares during the period. Summit Partners Public Asset Management LLC grew its position in shares of Sarepta Therapeutics by 547.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 138,118 shares of the biotechnology company's stock worth $17,250,000 after purchasing an additional 116,800 shares in the last quarter. Finally, Retirement Systems of Alabama bought a new stake in Sarepta Therapeutics during the 2nd quarter valued at approximately $18,433,000. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Trading Down 3.3 %

Sarepta Therapeutics stock traded down $4.60 during midday trading on Friday, reaching $133.34. The stock had a trading volume of 777,554 shares, compared to its average volume of 1,246,366. Sarepta Therapeutics, Inc. has a 52-week low of $78.67 and a 52-week high of $173.25. The company has a fifty day moving average of $122.50 and a 200 day moving average of $131.49. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 106.67 and a beta of 0.81. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Analysts Set New Price Targets

Several research firms have weighed in on SRPT. Piper Sandler dropped their price target on Sarepta Therapeutics from $200.00 to $182.00 and set an "overweight" rating for the company in a research note on Wednesday. Raymond James restated an "outperform" rating and set a $150.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, October 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $182.00 price target on shares of Sarepta Therapeutics in a report on Monday, October 21st. William Blair raised shares of Sarepta Therapeutics to a "strong-buy" rating in a report on Friday, August 30th. Finally, Jefferies Financial Group assumed coverage on Sarepta Therapeutics in a report on Monday, October 21st. They issued a "buy" rating and a $165.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $175.77.

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.