Point72 Asset Management L.P. Cuts Stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Point72 Asset Management L.P. trimmed its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 24.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,855 shares of the biotechnology company's stock after selling 12,058 shares during the period. Point72 Asset Management L.P.'s holdings in Sarepta Therapeutics were worth $4,603,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SRPT. Comerica Bank raised its stake in shares of Sarepta Therapeutics by 489.4% during the 1st quarter. Comerica Bank now owns 3,336 shares of the biotechnology company's stock worth $432,000 after buying an additional 2,770 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Sarepta Therapeutics by 27.6% during the 1st quarter. Cetera Investment Advisers now owns 11,991 shares of the biotechnology company's stock worth $1,552,000 after buying an additional 2,590 shares in the last quarter. CWM LLC raised its stake in shares of Sarepta Therapeutics by 30.4% during the 2nd quarter. CWM LLC now owns 871 shares of the biotechnology company's stock worth $138,000 after buying an additional 203 shares in the last quarter. Securian Asset Management Inc. purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at approximately $1,187,000. Finally, Roman Butler Fullerton & Co. purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at approximately $404,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Trading Up 1.0 %

Sarepta Therapeutics stock traded up $1.24 during midday trading on Monday, reaching $129.41. The stock had a trading volume of 399,390 shares, compared to its average volume of 1,232,984. Sarepta Therapeutics, Inc. has a twelve month low of $85.61 and a twelve month high of $173.25. The stock has a market capitalization of $12.36 billion, a PE ratio of 102.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The stock's 50-day simple moving average is $122.71 and its 200 day simple moving average is $131.35.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Kathryn Jean Boor sold 1,636 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $125.55, for a total value of $205,399.80. Following the transaction, the director now directly owns 5,880 shares of the company's stock, valued at $738,234. This trade represents a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SRPT shares. UBS Group raised their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a "buy" rating in a research note on Tuesday, September 17th. Robert W. Baird dropped their price objective on Sarepta Therapeutics from $200.00 to $193.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Needham & Company LLC dropped their price objective on Sarepta Therapeutics from $205.00 to $202.00 and set a "buy" rating for the company in a research note on Wednesday, November 27th. Cantor Fitzgerald raised Sarepta Therapeutics from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $152.00 to $167.00 in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $182.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.55.

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.